Binding price floors benefit sellers because they allow sellers to sell all the goods they want at a higher price.

Name: Binding price floors benefit sellers because they allow sellers to sell all the goods they want at a higher price.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Binding price floors can lead to surpluses because the minimum price is set above the equilibrium price, causing the quantity supplied to exceed the quantity demanded, which means sellers may not be able to sell all they want.

Binding Price Floors Benefit Sellers Because They Allow Sellers to Sell