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Villerys39 Villerys39
wrote...
Posts: 476
4 years ago
What is a price floor and why must it be above the equilibrium price to be effective?
Textbook 
Microeconomics: Principles, Applications, and Tools

Microeconomics: Principles, Applications, and Tools


Edition: 8th
Authors:
Read 125 times
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Replies
wrote...
4 years ago
A price floor is a minimum price. It is only effective above the equilibrium price because the market will remain at equilibrium if a minimum price is set below the equilibrium price.
Villerys39 Author
wrote...
4 years ago
This site is awesome!
wrote...
4 years ago
Slight Smile Good luck on the rest
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