a4hlArniedgekw
Answered

Price controls that exist in the economy include price floors such as _____ and price ceilings such as _____.

rent subsidies, equilibrium price

rent control, tax credit

minimum wage, rent control

Verified Answer :

meerkat18

Price controls that exist in the economy include price floors such as MINIMUM WAGE and price ceilings such as RENT CONTROL.

Price floor means that it is the lowest price a good or service can be priced, whereas, the price ceiling means that it is the maximum price a good or service can be priced.

Queenlori

Answer:

RENT CONTROL.

Explanation:

What happens when wages are set by law above the equilibrium level? Firms employ fewer workers than they would at the equilibrium wage. ... Firms hire more workers but for fewer hours than they would at the equilibrium wage.

Related Questions