When the government sets a price for wheat that is above the equilibrium price, it is imposing a _____
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When the government sets a price for wheat that is above the equilibrium price, it is imposing a Prise Floor.
Prise Floor is the term used to notate the government imposed prise control. The prise control decides how low a product could be charge.
According to experts, a prise floor must be higher than the equilibrium prize to be more effective for the seller (Farmer).
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