Which of the following is an example of an effective price floor?
Question 7 options:
In 2018, Scotland imposed a minimum price for alcohol, set at 50 pence (70 cents) per unit.
In order to motivate innovators, the US government allows a 25 year patent on new innovations after 2015.
The government of India has set price ceilings on how much ride-share companies can charge customers during busy hours
In 2012, after Hurricane Sandy hit the Northeast United States, New York and New Jersey set a price limit on basic goods such as bottled water and gasoline.