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What is minimum supply price of …

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What is minimum supply price of a commodity?

Posted by Annika Sharma 7 years, 10 months ago

CBSE > Class 12 > Economics

3 answers

Dhairya Gupta 7 years, 10 months ago

It is set less than the equilibrium price so that people could afford it but it lead to a suitation of excess demand which ultimately leads to black marketing because of long lines, availability of low quality goods and non availability of goods. the government use rationing system to cover excess demand

Yashashshri Sharma 7 years, 10 months ago

Refers to to minimum price fixed by the government that a producer can charge from the buyers for the sale of a commodity (price floor)

Arnavsingh Yadav 7 years, 10 months ago

Minimum supply price vil b equal to cost of its production

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