When a price floor is imposed, it has an impact on a market if it is set, O a. at the equilibrium price O b. above the equilibrium price because quantity demanded exceeds quantity supplied O c above the equilibrium price because quantity supplied exceeds quantity demanded O d. below the equilibrium price because quantity demanded exceeds quantity supplied
When a price floor is imposed, it has an impact on a market if it is set, O a. at the equilibrium price O b. above the equilibrium price because quantity demanded exceeds quantity supplied O c above the equilibrium price because quantity supplied exceeds quantity demanded O d. below the equilibrium price because quantity demanded exceeds quantity supplied
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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Concept explainers
Customary Pricing
There are various types of pricing strategies followed in the market. They are psychological pricing, odd pricing, free onboard pricing, customary pricing, prestige pricing, dual pricing, ruling pricing, negotiated pricing, mark up pricing, etc. each one can be explained as follows:
Multiple Unit Pricing
“Multiple-unit pricing is a practice where a company offers consumers a lower than unit price if a specified number of units are purchased.”
Question
![When a price floor is imposed, it has an impact on a market if it is set,
O a. at the equilibrium price
O b. above the equilibrium price because quantity demanded exceeds quantity supplied
O c. above the equilibrium price because quantity supplied exceeds quantity demanded
O d. below the equilibrium price because quantity demanded exceeds quantity supplied
Price floor is beneficial for
O a. Buyers
O b. Sellers
O c. All of these
O d. Government income](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa38d1953-37e6-4fb9-b210-8c6d07febd04%2F4aa14acb-983a-43cd-be18-5e835a97a37b%2F12q7h1_processed.png&w=3840&q=75)
Transcribed Image Text:When a price floor is imposed, it has an impact on a market if it is set,
O a. at the equilibrium price
O b. above the equilibrium price because quantity demanded exceeds quantity supplied
O c. above the equilibrium price because quantity supplied exceeds quantity demanded
O d. below the equilibrium price because quantity demanded exceeds quantity supplied
Price floor is beneficial for
O a. Buyers
O b. Sellers
O c. All of these
O d. Government income
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