Question

Minimum wage and farming price control are examples of _____.

a. market-clearing prices
b. price ceilings
c. price floors

Answer 1

Price floors

Step-by-step explanation:

It is the minimum price for a good, sometimes imposed by government.

Answer 2

This is an example of price floors. The government sets a price floor to prevent the prices from going down or being too low. Minimum wage is the lowest amount of money a person can be paid per hour and the employer cant go any lower than that.