When a binding price floor is imposed on a market to benefit sellers,
a. every seller in the market benefits.
b. all buyers and sellers benefit.
c. every seller who wants to sell the good will be able to do so, but only if he appeals to the personal biases of the buyers.
d. some sellers will not be able to sell any amount of the good.
d
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The first step toward reducing negative externalities or maintaining them within acceptable bounds, according to the argument of the textbook, is
A) constructing an exhaustive list of all negative externalities. B) creating a central planning authority for negative externalities. C) cultivating such civic virtues as courtesy and tolerance. D) halting population growth. E) prohibiting activities whose costs are greater than their benefits.
If the labor supply is unchanged, an increase in the demand for labor will
A) increase the equilibrium wage and increase the quantity of jobs demanded. B) increase the equilibrium wage and decrease the number of workers employed. C) decrease the equilibrium wage and increase the number of workers employed. D) increase the equilibrium wage and increase the number of workers employed.