A good example of a price floor is:
A) rent controls on apartments in major cities.
B) general admission tickets to concerts.
C) the minimum wage law.
D) food stamp regulations.
E) rock concert tickets.

Question

Quizplus · Accepted Answer

The minimum wage law sets a price floor on the hourly wage employers must pay their employees, ensuring that workers earn at least a certain amount per hour of work.

A Good Example of a Price Floor Is