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Price Floors and Ceilings

Price floors, such as government support for farmers, set price minimums, while price ceilings, like rent control, set a maximum price. Both can hold prices away from equilibrium, and make demand unequal to supply. Price regulations impose costs on consumers or producers, and create inefficiency.

English
  • Network The Great Courses
  • Created June 1, 2024 by
    imhotep79
  • Modified June 3, 2024 by
    Estefania Baleiron TVDB