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.
Correct Answer:
Verified
Correct Answer:
Verified
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