when a binding price ceiling is imposed on a market for a good, some people who want to buy the good cannot do so.
Answers 2
So the correct answer of your question is True.
Binding Price CeilingOn the other hand, if a price ceiling's level is set below the equilibrium price that would develop in a free market, it renders the free market price illegal and alters the outcome of the market. As a result, we can begin examining the impacts of a price ceiling by figuring out how a legally binding price ceiling will impact a market that is competitive.
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Answer: I put a screenshot of the answer just so people know what the question says.
The answer is:
f(x) → 0 as x → - ∞ .
f(x) → 0 as x → ∞ .
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