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Governments frequently set price floors that maintain minimum prices (e.g., minimum wage) and price ceilings that maintain maximum prices (e.g. interest rates, rent for housing,
Governments frequently set price floors that maintain minimum prices (e.g., minimum wage) and price ceilings that maintain maximum prices (e.g. interest rates, rent for housing, and in the past gasoline). Price floors
A. increase total sales (sellers' face higher prices).
B. shift the demand down (demand curve shifts to the left).
C. always make every seller better off.
D. all of the above.
E. none of the above.
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