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(Figure: Understanding Price Ceilings and Floors) in the Graph, If

Question 58

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(Figure: Understanding Price Ceilings and Floors) In the graph, if the government sets a minimum price of $75, this is an example of an (Figure: Understanding Price Ceilings and Floors) In the graph, if the government sets a minimum price of $75, this is an example of an A) binding price ceiling. B) binding price floor. C) efficient price ceiling. D) efficient price floor.


A) binding price ceiling.
B) binding price floor.
C) efficient price ceiling.
D) efficient price floor.

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