Concept:A price fixed above equilibrium is called a minimum price.
Its main purpose is to protect producers by guaranteeing them a higher income.
Explanation:At a price above equilibrium, quantity supplied becomes greater than quantity demanded.
This creates excess supply, or surplus, in the market.
Such a price floor is usually set by the government for agricultural products.
It ensures farmers receive a stable and higher price for their produce.
Thus, it encourages producers to continue producing.
Answer:A. protect agricultural producers