What is the incentive to create a black market when a binding price floor exists
Question 12
0 out of 2 points
What is the incentive to create a black market when a binding price floor exists?
· Question 13
2 out of 2 points
Suppose you live in a community with no price controls. What do you expect to happen if your
town borders a community where there is a binding price floor on most products?
· Question 14
2 out of 2 points
Mortimer loves sushi. He loves sushi so much that he asks his congressional representative to work for passage of a binding price ceiling law. Who would be affected by this law and how?
· Question 15
2 out of 2 points
Suppose you live in a community with no price controls. What do you expect will happen if your town borders a community where there is a nonbinding price ceiling on most products?
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