Describe an effective price floor. Select all that apply, including the graph of an effective price floor. Question 32 options: An effective price floor is above the market determined equilibrium price. An effective price floor is below the market determined equilibrium price. An effective price floor causes a market surplus - quantity supplied exceeds quantity demanded. An effective price floor causes a market shortage - quantity demanded exceeds quantity supplied. The government implements the price floor because it is believed the market determined price is "too low". The government implements the price floor because it is believed the market determined price is "too high". A minimum wage is a example of a price floor. Also, agricultural subsidies are examples of price floors. Rent control is an example of a price floor