A price floor is usually introduced when the equilibrium price is perceived to be
"too high."

Name: A price floor is usually introduced when the equilibrium price is perceived to be "too high."
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Question

A price floor is usually introduced when the equilibrium price is perceived to be
 "too high."

Quizplus · Accepted Answer

A price floor is introduced to prevent prices from being too low, not too high. It is a minimum price set by the government for certain goods and services to ensure that producers receive a minimum income that covers their costs.

A Price Floor Is Usually Introduced When the Equilibrium Price