what is the difference between a price floor and a price ceiling?\na price floor is the minimum price…
what is the difference between a price floor and a price ceiling?\na price floor is the minimum price allowed for a good. a price ceiling is the maximum price allowed for a good.\na price floor is the maximum price allowed for a good. a price ceiling is the minimum price allowed for a good.\na price ceiling below the equilibrium price has no effect.\na price floor above the equilibrium price has no effect.
Answer
Answer:
A. A price floor is the minimum price allowed for a good. A price ceiling is the maximum price allowed for a good.
Brief Explanations:
A price floor sets a lower - bound price, while a price ceiling sets an upper - bound price for a good. The other options have incorrect definitions or statements about their effects.