A Price Floor Is

question 99

Multiple Choice

A price floor is:

• A) the lowest price a producer will accept.
• B) the lowest price a consumer will pay.
• C) a minimum price set by the government above equilibrium price.
• D) a maximum price set by the government above equilibrium price

---

Definitions:

Sole Proprietorship

A type of business ownership where a single individual owns, manages, and is responsible for all aspects of the business.

Partnership

An association of two or more persons to carry on as co-owners a business for profit.

Sole Practitioner

An attorney who operates their law practice individually, rather than as part of a law firm or partnership.

Private Practitioner

A professional, often in law or healthcare, operating independently rather than as an employee of an organization.