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frosja888 [35]
3 years ago
8

15Question(1 point) 1st attempt What will happen in a market where a nonbinding price floor is removed? Choose one:

Business
1 answer:
djverab [1.8K]3 years ago
4 0

Answer:

A. The price or quantity of the product sold on the legal market will not change.

Explanation:

Non-binding price floors are price floors that are set at lower points that the actual market value, so removing it will have little to no effect on the actual market because it wasn´t being taken into account from the start, price floors are set to ensure that a certain product does not go lower than a certain price to control prices, if the price in the market is between the floor and ceiling price nothing will happen if the price floor is removed.

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