26. Price floor is fixed by the govt. to protect the interest of the farmers (True/False)
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2
Answer:
Price Floor
Price floor means the price fixed by the government above Market Equilibrium Price which states the fixed amount more than Market Equilibrium Amount which is to be given to the farmers.
Statement is True
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0
Answer:
True
Price Floor(Minimum Price Ceiling)
The gov: imposes a lower limit on the price that may be charged for a particular good or service which is called as price floor. Price floor means fixing price above equilibrium price.
Such measures are meant to insulate farmers from income fluctuations,protect interest.
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