Suppose a price floor is imposed on eggs above their equilibrium price. the likely result will be:

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Anabella Underwood

Business

6 January, 02:55

Suppose a price floor is imposed on eggs above their equilibrium price. the likely result will be:

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Renee Murillo · Answer 1

Suppose a price floor is imposed on eggs above their equilibrium price. the likely result will be: a decrease in the quantity of eggs demanded.

Price floors above equilibrium pricing results in too much supplied but not enough demanded. When you think of the law of demand and what it states is that when there is a high price of something, the demand is typically lower. With items that aren't a necessity, most will wait for items to drop again before purchasing.