If quantity supplied equals 85 units and quantity demanded equals 80 units under a price control, then it is a:
A) binding price ceiling.
B) binding price floor.
C) nonbinding price ceiling.
D) nonbinding price floor.
Correct Answer:
Verified
Q28: Use the following to answer questions:
Figure: Labor
Q29: Figure: Supply and Demand 1 
Q30: Setting the maximum legal price above the
Q31: A nonbinding price ceiling leads to a(n):
A)
Q32: A binding price ceiling leads to a(n):
A)
Q34: At a price ceiling of $6 per
Q35: Under a binding price ceiling, one expects
Q36: Use the following to answer questions:
Figure: Government
Q37: If quantity supplied equals 40 units and
Q38: Use the following to answer questions:
Figure: Government
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