Economy, asked by Manjaripandey8207, 1 year ago

Effects of price floor on the market of a good. Use diagram ?

Answers

Answered by VAC

Hey frnd

price floor set above the market equilibrium price has several side-effects. Consumers find they must now pay a higher price for the same product. ... A price floor may lead to market failure if the market is not able to allocate scarce resources in an efficient manner.

Hope this helps u frnd

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