Statement Price Control Binding or Not The government prohibits donut shops from selling donuts for more than $1.80 each.Price ceiling Binding There are many teenagers who would like to work at donut shops, but they are not hired due to minimum-wage laws.Price ceiling Non-binding The government has instituted a legal minimum price of $1.80 each for donuts.Price floor Binding
Price ceiling is a legal maximum on the price at which a good can be sold whereas a price floor is a legal minimum on the price at which a good can be sold
