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Describe the features of pluralistic organizations.
Price Floor
A government or regulatory imposed minimum price above the equilibrium, typically set to protect producers or sectors from too low of prices.
Price Ceiling
A legal maximum price that can be charged for a good or service, above which it cannot rise.
Price Floors
Minimum price levels set by the government for certain goods and services, below which they cannot be sold.
Price Ceilings
A government-imposed limit on how high a price can be charged for a product or service.
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