Price Floor Questions

Perhaps the best known example of a price floor is the minimum wage which is based on the view that someone working full time should be able to afford a basic standard of living.

Price floor questions.

Perhaps the best known example of a price floor is the minimum wage which is based on the normative view that someone working full time ought to be able to afford a basic standard of living. An effective price floor must be set above equilibrium resulting in. A price floor is the lowest legal price a commodity can be sold at. Access the answers to hundreds of price ceiling questions that are explained in a way that s easy for you to understand.

Get help with your price ceiling homework. A price floor is the lowest price that one can legally pay for some good or service. Price floors are also used often in agriculture to try to protect farmers. What does this graph show.

The most common price floor is the minimum wage the minimum price that can be payed for labor. None of the above. This quiz worksheet combination will test your understanding of price ceilings and price floors. Quiz questions will focus on topics such as binding price ceiling lines and the term given to how.

10 questions show answers.