What is a price floor?

A price floor is an established lower boundary on the price of a commodity in the market. Governments usually set up a price floor in order to ensure that the market price of a commodity does not fall below a level that would threaten the financial existence of producers of the commodity. 1. Binding Price Floor

What is RR/bayc (bayc)?

Explore Our API What is RR/BAYC? RR/BAYC (BAYC) is an NFT collection. RR/BAYC (BAYC) price floor today is $113.33, with a 24 hour sales volume of 0 ETH. As of today, there is a total of 6,900 NFTs minted, held by 2,964 unique owners, and has a total market cap of $781,953.

What is a binding price floor?

A binding price floor is one that is greater than the equilibrium market price. Consider the figure below: The equilibrium market price is P* and the equilibrium market quantity is Q*. At the price P*, the consumers’ demand for the commodity equals the producers’ supply of the commodity. The government establishes a price floor of PF.

What is a price ceiling?

A price ceiling keeps a price from rising above a certain level—the “ceiling”. A price floor keeps a price from falling below a certain level—the “floor”. We can use the demand and supply framework to understand price ceilings. In many markets for goods and services, demanders outnumber suppliers.