If a binding price floor is imposed on the video game market, then:____.
a. the quantity demanded for video games will decrease.
b. the quantity supplied of video games will increase.
c. a surplus of video games will develop.
d. All of these answers are correct.

A price floor is when the government or an agency of the government sets the minimum price of a product. A price floor is binding if it is set above equilibrium price.

Because price is set above equilibrium price, quantity supplied would exceed quantity demanded and there would be a surplus.

Because price is set above equilibrium price, quantity demanded will decrease.

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If a binding price floor is imposed on the video game market, then:____. a. the quantity demanded for video games will decrease. b. the quantity supplied of video games will increase. c. a surplus of video games will develop. d. All of these answers are correct.

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If a binding price floor is imposed on the video game market, then:____.
a. the quantity demanded for video games will decrease.
b. the quantity supplied of video games will increase.
c. a surplus of video games will develop.
d. All of these answers are correct.