Answer:
A) A price floor is the minimum price allowed for a good. A price ceiling is the maximum price allowed for a good.
Explanation:
Edge January 2021 100%
The difference between a price floor and a price ceiling is A. A price floor is the minimum price allowed for a good. A price ceiling is the maximum price allowed for a good.
A price floor is the government-regulated minimum price. This price implies that a supplier cannot sell below the stated minimum. On the other hand, a price ceiling refers to the government-regulated maximum price. Suppliers of goods and services with a price ceiling are not expected to sell above the stated maximum.
Thus, the difference between a price floor and a price ceiling is Option A.
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