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Minimum price

Think floor is the bottom which is the minimum.

Think ceiling is the top which is the maximum.

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13y ago

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Related Questions

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.


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.


What is the difference between price ceiling and price floor?

price ceiling: A legally determined maximum price that sellers may charge.price floor: A legally determined minimum price that sellers may receive.


What is a price ceiling and a price floor?

Price ceiling- a legal maximum price that may be changed for a particular good or service. Price floor- a legal minimum price below which a good or service may not be sold.


A minimum price for a good or service?

price floor


What is a minimum price for a good or service?

price floor


What is the term for the minimum price allowed by law?

Price floor


What is a maximum price set below the equilibrium price?

Price Floor.


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


Minimum wage is an example of?

a price floor.


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.