When a binding price ceiling is imposed on a market to benefit buyers,
A) no buyers actually benefit.
B) some buyers benefit, but no buyers are harmed.
C) all buyers benefit.some buyers benefit, and some buyers are harmed.
D) all buyers benefit.

Question

Quizplus · Accepted Answer

When a binding price ceiling is imposed on a market to benefit buyers, some buyers may benefit by obtaining the product at a lower price than they would have otherwise paid. However, some buyers may be harmed because suppliers may be unable or unwilling to offer the same quantity of the product at the lower price, leading to shortages and potentially unequal distribution among buyers. Therefore, while all buyers may not benefit equally, it is possible that some buyers benefit and some are harmed.

When a Binding Price Ceiling Is Imposed on a Market