Ask Question
23 May, 11:31

If a price floor is above market price how does it affect supply and demand?

+5
Answers (1)
  1. 23 May, 14:35
    0
    When a price floor is set above the equilibrium price, quantity supplied will exceed quantity demanded, and excess supply or surpluses will result. When government laws regulate prices instead of letting market forces determine prices, it is known as price control.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “If a price floor is above market price how does it affect supply and demand? ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers