Binding price ceilings benefit consumers because they allow consumers to buy all the goods they demand at a lower price.

Name: Binding price ceilings benefit consumers because they allow consumers to buy all the goods they demand at a lower price.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Binding price ceilings can lead to shortages because the price is set below the equilibrium price, which increases demand but decreases supply, making it impossible for consumers to buy all they demand at the lower price.

Binding Price Ceilings Benefit Consumers Because They Allow Consumers to Buy