What is Price selling &price floors?
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Posted by Himanshi Sagar 6 years ago
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Yogita Ingle 6 years ago
Price floor implies legislated or government fixed minimum price that should be charged by the seller. The minimum price is fixed above the equilibrium price. For example, in India, minimum wage is fixed to safeguard the welfare of labourers and minimum support price is fixed to safeguard and protect the interests of the farmers by ensuring minimum returns to them.
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