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Ques: What is the consequence of price floor imposed by the government ?
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A price floor, if set above the market equilibrium price, means consumers will be forced to pay more for that good or service than they would if prices were set on free market principles. Governments set price floors for a number of reasons, but the typical result is an increase of supply and decreased demand.
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hey mate ♥️
A price floor, if set above the market equilibrium price, means consumers will be forced to pay more for that good or service than they would if prices were set on free market principles. Governments set price floors for a number of reasons, but the typical result is an increase of supply and decreased demand.
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