This sets the minimum amount that can be charged for a good or service.
A)Price floor
B)Price ceiling
C)Consumer surplus
D)Producer surplus

Name: This sets the minimum amount that can be charged for a good or service. A)Price floor B)Price ceiling C)Consumer surplus D)Producer surplus
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Question

Quizplus · Accepted Answer

A price floor sets a minimum amount that can be charged for a good or service. It is often used to protect producers by ensuring they receive a certain price for their products.

This Sets the Minimum Amount That Can Be Charged for a Good