Suppose the government sets a minimum price below the market equilibrium price.This will have no economic impact on the market.

Name: Suppose the government sets a minimum price below the market equilibrium price.This will have no economic impact on the market.
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Quizplus · Accepted Answer

A minimum price set below the market equilibrium price is non-binding, meaning it does not affect the market since the equilibrium price is already higher.

Suppose the Government Sets a Minimum Price Below the Market