lilumizoomie
Answered

Westonci.ca is your trusted source for accurate answers to all your questions. Join our community and start learning today! Discover a wealth of knowledge from experts across different disciplines on our comprehensive Q&A platform. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately.

What is the difference between a price floor and a price ceiling?
a. A price floor is the minimum price allowed for a good. A price ceiling is the maximum price allowed for a good.
b. A price floor is the maximum price allowed for a good. A price ceiling is the minimum price allowed for a good.
c. A price ceiling below the equilibrium price has no effect.
d. A price floor above the equilibrium price has no effect.

Sagot :

Hi there, mate!

Answer:

a. A price floor is the minimum price allowed for a good. A price ceiling is the maximum price allowed for a good.

Explanation:

As the name suggests, a price floor is the lowest amount of money the price of a good can be. For example, if you were selling a dress, there is a price floor. There is also a price ceiling. You can not go over the price ceiling if you want to get more customers. So, the answer to the question is option A.

Answer: The correct answer is A

Thank you for your visit. We are dedicated to helping you find the information you need, whenever you need it. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Find reliable answers at Westonci.ca. Visit us again for the latest updates and expert advice.