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16 October, 00:38

The price received by sellers in a market will decrease if the government a. imposes a binding price floor in that market. b. decreases a binding price ceiling in that market. c. decreases a tax on the good sold in that market. d. increases a binding price floor in that market.

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  1. 16 October, 03:12
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    The price received by sellers in a market will decrease if the government imposes a binding price floor in that market.

    Explanation:

    If the government imposes a binding price floor in the market, this would make the binding price ceiling to occur below the equilibrium price.

    The lower price would generate a shortage of housing by increasing the quantity demanded and reducing the quantity supplied.

    Therefore, the price received by sellers in a market will decrease if the government imposes a binding price floor in that market.
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