Question

When the government sets an effective price floor suppliers are helped and consumers are helped. suppliers are hurt and consumers are helped. suppliers are helped and consumers are hurt. This is an incorrect answer. Have a nice day! supply increases due to the increase in price.

Answer 1

suppliers are helped and consumers are hurt.

Step-by-step explanation:

A price floor is when the government or an agency of the government sets the least price a good or service can be purchased.

A price floor is usually set above equilibrium price. As a result, the profit earned by sellers increase while the good becomes more expensive for consumers.

I hope my answer helps you