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Another way to think about this is to start at a price of 100 and go down until you the price floor price or the equilibrium price. Note that the price ceiling is above the equilibrium price so that anything price below the ceiling is feasible. Solved C How Does A Binding Price Floor Affect Equi…

When it is set above the equilibrium price there could be an oversupply of service or commodity or a surplus. In this case the wage is the price of labour and employees are the suppliers of labor and the company is the consumer of employees labour. What Is Minimum Price Ceiling Quora Housing wo…