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Price Quantity Demanded Quantity Supplied 1.70 …

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Wize University Microeconomics Textbook > Government Interventions in Markets

Price Floor

3 Activities

Price Quantity Demanded Quantity Supplied
1.70 1700 2000
1.50 1800 1950
1.30 1900 1900
1.10 2000 1850

The table above shows the demand and supply schedule for candy. If the government want to decrease the candy that children consume they could implement which of the following policies:
More Price Floor Questions:
Practice: Total Earnings
A binding minimum wage will increase the total dollar earnings of workers if:
Practice: Price Floor
An effective price floor will have no effect on the quantity sold (traded) if:
Practice: Price Floor
Suppose a binding price floor on chocolate is proposed by the Candy Wizard of Candyland. What will be the likely effect on the market for chocolate in Candyland?
Consider a competitive labour market. The likely consequence of a binding minimum wage in this labour market is