Ask Question
11 March, 15:58

The price received by sellers in a market will decrease if the government a. imposes a binding price floor in that market. b. decreases a binding price ceiling in that market. c. decreases a tax on the good sold in that market. d. increases a binding price floor in that market.

+5
Answers (1)
  1. 11 March, 16:06
    0
    The price received by sellers in a market will decrease if the government imposes a binding price floor in that market.

    Explanation:

    If the government imposes a binding price floor in the market, this would make the binding price ceiling to occur below the equilibrium price.

    The lower price would generate a shortage of housing by increasing the quantity demanded and reducing the quantity supplied.

    Therefore, the price received by sellers in a market will decrease if the government imposes a binding price floor in that market.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The price received by sellers in a market will decrease if the government a. imposes a binding price floor in that market. b. decreases a ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers