Question: What is the difference between a price ceiling and a price floor? If a price ceiling for a good is set below the market equilibrium,

What is the difference between a price ceiling and a price floor? If a price ceiling for a good is set below the market equilibrium, what will happen to the quality and future availability of the good? Explain.

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A price ceiling and a price floor are both forms of government intervention in markets to control prices but they have opposite effects and serve diff... View full answer

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