Written by the Fiveable Content Team • Last updated August 2025
Verified for the 2027 exam
Verified for the 2027 exam•Written by the Fiveable Content Team • Last updated August 2025
Definition
A government-imposed minimum price set above the equilibrium price, creating a surplus and affecting prices and quantities in different market structures.
AP course connection
Topic 6.4: 6.4 The Effects of Government Intervention in Different Market Structures