What Occurs If a Price Floor Is Set Above the Equilibrium

question 273

Essay

What occurs if a price floor is set above the equilibrium price? What occurs if a price ceiling is set below the equilibrium price?

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Definitions:

Ingroup Identification

Ingroup identification is the psychological process of aligning oneself with the norms, values, and behaviors of one's reference group, enhancing feelings of belonging and identity.

Expressive Intensity

The degree of strength or forcefulness with which emotions are expressed or communicated.

Acculturative Stress

The psychological impact of adaptation to a new culture, which can result in anxiety, depression, and identity confusion.

Marginalisation

The process of pushing certain groups or individuals to the edge of society by not allowing them an active voice, or diminishing their roles.