Did the government enact a priceceiling or a price floor

Reference no: EM13244075

Consider Good E, which, when sold in a particular country, has anequilibrium price = $10.00. The government of that country decidedthat it doesn't like that equilibrium price, and so passes alaw which prevents the product from selling for $10.00. After thepassage of the law, quantity demanded for Good E= 100,000, whilequantity supplied = 130,000. Did the government enact a priceceiling or a price floor?

Reference no: EM13244075

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