What Is the Difference Between a Price Support and a Price

question 121

Multiple Choice

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

• A) A price support is below equilibrium; a price floor is above it.
• B) A price support is above equilibrium; a price floor is below it.
• C) Government buys the excess supply to maintain a price floor, but not a price support.
• D) Government buys the excess supply to maintain a price support, but not for a price floor.
• E) There is no difference between the two.

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