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Give an example of a price floor and a price ceiling and the purpose of the controls?
an example of a price floor is the minimum wage
Give an example of a price ceiling and an example of a price floor?
Price cealing: rent control Price floor: minimun wage
An example of price floor?
A price floor is government imposed limit on how low a price can be charged for a product or service. An example of a price floor in the US are minimum wage laws. The government has set the minimum wage that a company can pay an employee.
Minimum wage is an example of?
a price floor.
The minimum wage is an example of?
The minimum wage is an excellent example of a price floor
Markets with a ceiling price and floor price?
An example of a ceiling would be rent controlled apartments. A floor would be minimum wage.
How is a price floor different from a price ceiling?
Price floor is a minimum and price ceiling is a maximum.
How is floor price different from a price ceiling?
Price floor is a minimum and price ceiling is a maximum.
When is a price floor not binding?
the quantity of the good demanded with the price floor is less than the quantity demanded of the good without the price floor
What is floor price in share market?
A floor price is a group-imposed price limit on how low a price can be charged for a product.
An example of a price floor?
minimum wage laws, laws specifying the lowest wage a company can pay an employee
How is price floor different from price ceiling?
A price floor is the minimum price set by the government where as a price ceiling is the maximum price sellers can charge for a good or service.
