Respuesta :
Victor is a senator from Kansas who wants to help farmers. He has worked to encourage the passage of a law that would impose a binding price floor on wheat. He would expect his critics to say that "the binding price floor will cause a surplus of wheat that farmers will be unable to sell."
What is Binding Price Floor?
A fixed lower limit on a commodity's market price is known as a price floor. In order to prevent a commodity's market price from falling too low and endangering the producers' ability to make a living, governments typically create a price floor. So, price floor that is binding is one that is higher than the equilibrium market price.
Therefore, if Victor has worked to encourage the passage of a law that would impose a binding price floor on wheat. He would expect his critics to say that "the binding price floor will cause a surplus of wheat that farmers will be unable to sell."
To know more about Binding Price Floor, click on the link given below:
https://brainly.com/question/15710679
#SPJ4
