Government-created price floors are typically imposed to

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Price floors are typically imposed to help producers by setting a minimum price that can be charged for a good or service, which can help to ensure that producers receive a fair price for their products. This can be particularly important in industries where prices may be subject to significant fluctuations or volatility, or where producers may have limited bargaining power relative to the buyers of their products.

Government-Created Price Floors Are Typically Imposed to