Indicate whether each of the statements is an example of a price ceiling or a price floor and whether it is binding or nonbinding. a. The government has instituted a legal minimum price of $8 each for hamburgers.
b. The government prohibits fast-food restaurants from selling hamburgers for more than $8 each.
c. There are many teenagers who would like to work at fast-food restaurants, but they are not hired due to minimum-wage laws