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What are forms of price floors to lead inefficiency?

Price floors frequently lead to ineffectiveness in the forms of:

a. Inefficient allocation of sales in between sellers

b. Wasted resources

c. Inefficiently high quality

They also can give an incentive for illegal activity (for example, black labor).

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9581630

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