Price floors get their name from the fact that they represent a minimum price below which the legal price cannot fall.
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Q17: If a price ceiling is not binding,
Q18: When both supply and demand shift in
Q22: If both buyers and sellers of a
Q24: A price ceiling set below the equilibrium
Q27: If there is a ceiling price below
Q31: An increase in both the equilibrium price
Q40: One common example of a price ceiling
Q42: Assume that coffee and tea are substitutes
Q57: A more efficient means of processing tree
Q59: A price floor set above the equilibrium
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