If a binding price floor is imposed on the video game market,then
A)the quantity of video games demanded will decrease.
B)the quantity of video games supplied will increase.
C)a surplus of video games will develop.
D)All of the above are correct.

Question

Quizplus · Accepted Answer

A binding price floor set above the equilibrium price leads to a decrease in quantity demanded, an increase in quantity supplied, and results in a surplus.

If a Binding Price Floor Is Imposed on the Video