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Does a price floor attempt to make a price higher or lower?
Price floor is a legal minimum price below which a commodity cannot be sold. Price floor attempts to make prices higher. Minimum wage that can be payed to the labor for their services is an example of price flooring.
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Chapter 3
Demand and Supply
Introduction
How Markets Work
Markets and Welfare
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press floor is a legal minimum press below which a community cannot be sold. In this case, we can think about the press off milk press floor attempts to make press hair higher if the government decides across flow of floor above the equilibrium. Press CPF here and there's a legal labour impressed before the press. Um, press floor is p zero, so we can say P five is higher than the P zero. For another example, that's minimum, which that's come be paid to the labor for their service is, is is on. Perfect is a perfect example of press floor flooring because the employee employer year cannot pave there in Howie's bolos, a minimum wage which we can consider the minimum wage, is a price floor set by the government to protect on the employees and also the press off. Milk had mentioned before the common side of bar were oppressed floor here to prevent any, you know, bad mind bad guys to give up where we lower where we low price to the milk makers. And just to make sure that the milk makers can have enough money to produce more milk in the future, you honored So have I have the You have enough? Um, mark the supply off milk So all you all oppressed four attempts to make a press higher. If on the only if the press for its that's above the equilibrium press.
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