If a nonbinding price ceiling is imposed on a market,then the
A)quantity sold in the market will decrease.
B)quantity sold in the market will stay the same.
C)price in the market will increase.
D)price in the market will decrease.

Question

Quizplus · Accepted Answer

A nonbinding price ceiling means that the market price is already below the ceiling, so setting a ceiling does not change the market price. Therefore, the quantity sold in the market will stay the same.

If a Nonbinding Price Ceiling Is Imposed on a Market,then