the lowest amount a manufacturer can pay factory workers is an example of an incentive. a price floor. a…
the lowest amount a manufacturer can pay factory workers is an example of an incentive. a price floor. a price ceiling. an elastic service.
Answer
Brief Explanations:
A price floor is a minimum - set price. The lowest amount a manufacturer can pay factory workers (minimum wage) is a price floor as it sets a minimum limit on the price (wage) of labor. An incentive is something that encourages action, a price ceiling is a maximum price, and an elastic service relates to the responsiveness of quantity demanded to price changes.
Answer:
B. a price floor.