Price Floors

Price floors should not be enforced by the government because it seems unnecessary to apply price floors to goods and services that we purchase. Since a price floor raises the price of the product above the equilibrium price, it causes consumers to fork over more money for a product they would otherwise be willing to pay for. This would result in less demand and excess product for the company to deal with. If a producer of a good or service would like to set their product to a ridiculously low price, they should have the right to because it would benefit the few who are able to purchase the small supply of the product that would be available.