A minimum permissible price established by the government is called
A)the equilibrium price.
B)the margin price.
C)a price ceiling.
D)a price floor.
E)the fair price.

Question

Quizplus · Accepted Answer

A minimum permissible price established by the government is called a price floor. It is designed to prevent prices from falling below a certain level, usually to protect producers or workers.

A Minimum Permissible Price Established by the Government Is Called