ECN 104 Chapter Notes - Chapter 6: Tax Incidence, Price Ceiling, Price Floor

• School: Ryerson University
• Department: Economics
• Course: ECN 104
• Professor: Frank Trimnell

Document Summary

Price ceiling: a legal max. on the price at which a good can be sold. Price floor: a legal min. on the price at which a good can be sold. General result: when the govt imposes a binding price ceiling (price ceiling