Economy, asked by ayushgupta52251, 5 months ago

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what is meaning of price floor what are
wite.implication

Answers

Answered by aniketgamer1011

..............................

Answered by Varshatherowdy

Explanation:

A price floor is the lowest legal price that can be paid in a market for goods and services, labor, or financial capital. ... When a price floor is set above the equilibrium price, quantity supplied will exceed quantity demanded, and excess supply or surpluses will result.

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