A Price Floor Is a

Multiple Choice

A price floor is a

A) fixed point on the supply curve that represents the lowest price a producer will accept
B) fixed point on the demand curve that represents the lowest price a consumer will pay
C) minimum price set by the government that is positioned above the equilibrium price
D) maximum price set by the government that is positioned above the equilibrium price
E) maximum price set by the government that is positioned below the equilibrium price