Identify and explain an economic concept found in the
article about price ceiling and floor ....
Identify and explain an economic concept found in the
article about price ceiling and floor . need to show that you
understand what price ceiling and floor is
350 word or less
need to cite each source in correct bibliographic
form
A
price floor is
A.
almost always equal to the price ceiling.
B.
the highest possible legal price that can be charged for a
good or service.
C.
the lowest legal price at which a good or service can be
traded.
D.
a legal price of zero that can be charged for a good or
service.
E.
usually equal to the equilibrium price established before the
government imposed the price floor
Question 4: Why some governments resort to
price ceiling and price floor for some goods and services? Describe
three most important disadvantages of price ceiling and price
floor? In what conditions do you think that price ceiling and price
floor may contribute to welfare of people?
Question 4: Why some governments resort to
price ceiling and price floor for some goods and services? Describe
three most important disadvantages of price ceiling and price
floor? In what conditions do you think that price ceiling and price
floor may contribute to welfare of people?