what is price floor
Answers
Answered by
1
A price floor is the lowest legal price a commodity can be sold at. Price floors are used by the government to prevent prices from being too low. The most common price floor is the minimum wage--the minimum price that can be payed for labor. ... For a price floor to be effective, it must be set above the equilibrium price.
plxx mrk mee
sarumiwarisdamilare:
Price floor is the minimum price of a commodity at is fixed by the government
Answered by
3
the price floor is the least price at which the product can be sold
Similar questions