What is the difference between a price floor and price, Operation Management

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What is the difference between a price floor and price

What is the difference between a price floor and price ceiling? According to the laws of demand and supply and how market equilibrium, efficiency, and equity are reached, do attempts to repeal those laws and market results with price floors and price ceilings justify legislative bodies to implement price controls?

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Operation Management: What is the difference between a price floor and price

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