When a Price Floor That Has an Impact Is Removed,which

question 167

Multiple Choice

When a price floor that has an impact is removed,which of the following statements is correct?

• A)Price of the good increases.
• B)Quantity supplied for that good decreases.
• C)Demand for that good increases.
• D)None of these choices are correct.

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Definitions:

Online Shopping

The process of buying goods or services over the internet, often from a website or application, allowing consumers to purchase from anywhere.

Consumer Hesitancy

The reluctance or delay in purchasing decisions by consumers due to doubts or concerns.

Dynamic Pricing

A pricing strategy where prices are adjusted in response to market demand, competition, and other external factors.

Time-sensitive Items

Products that have a limited period during which they remain useful or desirable, often requiring expedited handling and delivery.