Minimum wage is a common example of?

a. price ceilings

b. rationing

c. price floors

d. public goods

Option C.

Explanation:

Option "C" Price Floor is the correct answer because the price floor refers to the legal lowest price of the commodity which can be sold lawfully. The Price floors are utilized by the government of the country to keep costs from being excessively low. The most widely recognized price floor is the lowest wage permitted by law which can be paid to labor.

Hi there!

I believe your answer is b. rationing because rationing means people get only a certain amount of something, which is exactly what minimum wage is.

Have a great night!

~Brooke