What is the difference between a price floor and a price ceiling?

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asked May 18, 2022 24.1k views

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Liorr · Answer 1 · 2022-05-25T12:43:40+0000

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Price controls come in two flavors. A price ceiling keeps a price from rising above a certain level (the “ceiling”), while a price floor keeps a price from falling below a certain level (the “floor”).

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What is the difference between a price floor and a price ceiling?

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