One common example of a price floor is the minimum wage.

Name: One common example of a price floor is the minimum wage.
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A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product, service, or commodity, and minimum wage laws set the lowest hourly rate that can be paid to workers, thus acting as a price floor in the labor market.

One Common Example of a Price Floor Is the Minimum