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What is price floor and it's …

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What is price floor and it's implications

Posted by Poonam Dubey 7 years, 6 months ago

CBSE > Class 12 > Economics

1 answers

Unknown . 7 years, 6 months ago

Price floor refers to the minimum price which is fixed by the government above the equilibrium price that producer must be paid for their produce. Its Implications Price floor is fixed above the equilibrium price. This leads to excess supply. When producer are not able to sell all they illegally sell the goods below the equilibrium price to get some amount.

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