If a Binding Price Floor Is Imposed on the Market

question 104

Multiple Choice

If a binding price floor is imposed on the market for eBooks,then

• A)the demand for eBooks will decrease.
• B)the supply of eBooks will increase.
• C)a surplus of eBooks will develop.
• D)All of the above are correct.

---

Definitions:

Landlord

An individual or entity that owns property and permits another party to use it in exchange for rent.

Parcel of Land

A parcel of land is a specific piece or tract of land, often defined by boundaries for purposes of ownership, development, or sale.

Covenant Runs

Legal obligations or promises in a deed or lease that bind or benefit the parties involved and their successors in title.

LessOR

The party in a lease agreement who owns the property and grants the right to use it to another party, the lessee.