A law that sets a minimum price, usually above equilibrium, is a:

Name: A law that sets a minimum price, usually above equilibrium, is a:
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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, good, commodity, or service, typically set above the equilibrium price. This is designed to ensure that the market price does not fall below a level deemed acceptable by the government or regulating body.

A Law That Sets a Minimum Price, Usually Above Equilibrium