Answer to Question #224245 in Microeconomics for chetna

Question #224245

Give an example of a price ceiling and an example of

a price floor.

Expert's answer

Price ceiling example include rent controls whereas an example of price floor include minimum wage laws.

Learn more about our help with Assignments: Microeconomics

Comments

No comments. Be the first!

Leave a comment

Related Questions

1. For the total cos function gives as TC=15+3Q-1.5Q2+7.5Q3-45Q4. Compute the Tfc, Tvc, Afc, Avc and At
2. A consumer has #300 to spend on goods X and Y. The market prices of these two goods are Px = #15 and
3. Suppose that the following events occur one at a time: The price of crude oil rises. The price of
4. You plan to upgrade your computer skills by taking a training course at the end of this semester. If
5. Ethan’s Bagels is able to produce 100 bagels a day with 10 workers and 10 stations. Which of the f
6. Which of the following is true of two firms in a duopoly market that are in a Nash equilibrium? B
7. 2 TSF manufacturing is a producer of dinning table. It may currently sell all the table it can produ