What Will Happen in a Market Where a Binding Price

question 162

Multiple Choice

What will happen in a market where a binding price floor is removed?

• A) The products sold will become scarcer.
• B) There will be upward pressure on the prices.
• C) There will be downward pressure on the prices.
• D) The price or quantity of the product sold in the legal market will not change.
• E) There will be increased pressure to buy and sell the good on the black market.

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