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Jlenok [28]
3 years ago
8

If a binding price floor is imposed on the video game market, then Question 8 options: the quantity of video games demanded will

decrease. the quantity of video games supplied will increase. a surplus of video games will develop. All of the above are correct.
Business
1 answer:
astraxan [27]3 years ago
5 0

Answer:

All of the above are correct.

Explanation:

A price floor is when the government or an agency of the government sets the minimum price of a product. A price floor is binding if it is set above equilibrium price.

Because price is set above equilibrium price, quantity supplied would exceed quantity demanded and there would be a surplus.

Because price is set above equilibrium price, quantity demanded will decrease

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The starting point on this grid system for determining latitudinal location is the ____________ , while the starting point for d
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) Saffron Foods sells jars of special spices used in Spanish cooking. The variable cost is $2 per unit. Fixed costs are $9,000,0
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