Do All Buyers Benefit from a Binding Price Ceiling

question 49

Multiple Choice

Do all buyers benefit from a binding price ceiling?

• A) Yes.A binding price ceiling benefits all buyers because it allows them to obtain the good in the legal market.
• B) No.A binding price ceiling benefits only some buyers because not all are able to obtain the good in the legal market.
• C) No.A binding price ceiling benefits no buyers because sellers are unwilling to sell any of their products.
• D) No.A binding price ceiling benefits only some buyers because,although the price is initially lower,it eventually increases to the equilibrium price.
• E) No.A binding price ceiling benefits no buyers because they are unwilling to buy any of the products at a price higher than the equilibrium.

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Definitions:

Mediator

A neutral third party who facilitates negotiation and attempts to help disputing parties reach a mutually acceptable agreement, without having the power to impose a solution.

Corporate Campaigns

Strategies used by labor unions or activist groups to pressure a company into changing its practices, often involving public relations efforts.

Intermittent Strikes

A labor strategy where workers strike periodically and unpredictably to exert pressure without completely halting operations.

Railway Labor Act

A U.S. federal law passed in 1926 that governs labor relations in the railway and airline industries, aiming to avoid service disruption and ensure workers' rights.