A price floor is usually fixed
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Correct Answer: Option D
Explanation:
Price floor or minimum price legislation is when price is fixed above the equilibrium. When the government fix the price above the equilibrium, there will be excess supply over demand and there will be surplus.
Price floor or minimum price legislation is when price is fixed above the equilibrium. When the government fix the price above the equilibrium, there will be excess supply over demand and there will be surplus.