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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
An example of a price floor?
minimum wage laws, laws specifying the lowest wage a company can pay an employee
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.
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.
