Economy, asked by anupsharma988331, 29 days ago

Price floor means a) Average revenue. b) Price limit for a product. c) Price which is lower than the equilibrium price. d) Market price.​

Answers

Answered by harshid710
0

Answer:

c) Price which is lower than the equilibrium price.

Explanation:

A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product, good, commodity, or service. A price floor must be higher than the equilibrium price in order to be effective.

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