Economy, asked by 27maanvi, 1 year ago

what is price ceiling and price floor?

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Answers

Answered by mouni610

8

I hope it is correct

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Answered by Anonymous

12

A price ceiling is the legal maximum price for a good or service, while a price floor is the legal minimum price. ... A price ceiling creates a shortage when the legal price is below the market equilibrium price, but has no effect on the quantity supplied if the legal price is above the market equilibrium price.

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