Price Floor Questions

This quiz worksheet combination will test your understanding of price ceilings and price floors.

Price floor questions.

An effective price floor must be set above equilibrium resulting in. What does this graph show. 10 questions show answers. A price floor is the lowest legal price that can be paid in markets for goods and services labor or financial capital.

How to calculate changes in consumer and producer surplus with price and floor ceilings. Access the answers to hundreds of price ceiling questions that are explained in a way that s easy for you to understand. The most common price floor is the minimum wage the minimum price that can be payed for labor. None of the above.

Get help with your price ceiling homework. Price floors are used by the government to prevent prices from being too low. A price floor is the lowest price that one can legally pay for some good or service. 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.

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.