+A **minimum price** is a floor set by an authority, mandating the lowest legal cost for a good or service. Often established above the [Equilibrium Price](/wiki/equilibrium_price), its goal is usually to support producers or guarantee a [Minimum Wage](/wiki/minimum_wage) for labor, potentially leading to excess supply.
+## See also
+- [Price Ceiling](/wiki/price_ceiling)
+- [Price Control](/wiki/price_control)
+- [Supply and Demand](/wiki/supply_and_demand)
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