Essay
Suppose that a binding price floor is in place in a particular market.If the market is deregulated and the price floor is removed, which of the following effects could occur?
A.The quantity demanded would decrease and the quantity supplied would increase.
B.An excess demand would develop.
C.There would be a decrease in the quality of the good supplied.
D.There would be an increase in the quality of the good supplied.
Correct Answer:
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There would be a dec...View Answer
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Correct Answer:
Verified
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