Economics (MindTap Course List)
Economics (MindTap Course List)
Buyers always prefer lower prices to higher prices. Do you agree or disagree with this statement? Explain your answer.
The rent ceiling.
The statement “Buyers always prefer lower prices to higher prices” is disagreeable. The buyers may prefer lower prices to higher prices only when all other factors influencing demand remain constant. Since the price is not the only factor which influences the welfare of the consumer, the quality, services, and delivery of services are also concerned by the consumer...
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