Why Are Binding Price Ceiling Laws Passed

question 97

Multiple Choice

Why are binding price ceiling laws passed?

• A) They make goods more expensive (and profitable)for firms.
• B) They encourage sellers to produce more of a good.
• C) They encourage producers to sell higher-quality products.
• D) They permit customers to obtain higher-quality products.
• E) They make a good less expensive for those customers who are able to purchase the good in the legal market.

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Definitions:

Motivated Salesperson

A sales professional who demonstrates high levels of enthusiasm, commitment, and drive to achieve sales targets and provide excellent customer service.

Independent Agents

Individuals or entities that represent multiple companies and sell products or services on behalf of these companies without being directly employed by them.

Manufacturers' Representatives

Individuals or businesses that sell manufacturers' products to wholesalers and retailers without taking ownership of the goods, operating on a commission basis.

Sales Administration

The process of overseeing and managing a company's sales operations, including planning, reporting, and goal setting.