The most probable result of the price floor is overproduction.
A price floor is when the government sets the minimum price of a product. A price floor is binding if it is set above equilibrium price.
Because price is set above equilibrium price, quantity supplied would exceed quantity demanded and there would be a surplus.
Here are the options:
more suppliers would leave the market.
A black market for wheat and corn.
overproduction.
the market would suffer shortages.
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