A price floor is a government or group imposed price control or limit on how low a price can be charged for a product good commodity or service.
A price floor program.
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A price floor is a minimum price enforced in a market by a government or self imposed by a group.
A price floor must be higher than the equilibrium price in order to be effective.
A price floor is the minimum price that is set by the government for certain services and commodities that are believed to be sold at very low prices in the market and the producers need aid.
The equilibrium price commonly called the market price is the price where economic forces such as supply and demand are balanced and in the absence of external influences the values of economic variables will not change often described as the point at which quanti.
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The price floor is set based on the equilibrium.