Business, 18.03.2020 18:33, chloeethoma24

Indicate whether each of the statements is an example of a price ceiling or a price floor and whether it is binding or nonbinding.

1. Due to new regulations, donut shops that would like to pay better wages in order to hire more workers are prohibited from doing so.

2. The government has instituted a legal minimum price of $1.80 each for donuts.

3. The government prohibits donut shops from selling donuts for more than $1.10 each.

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Indicate whether each of the statements is an example of a price ceiling or a price floor and whethe...