Price Floors

I agree that price floors should exist because they would regulate the quality of the products. If the price of the product cannot go below a certain price, then the producers will be more motivated to make them at a better quality. Also, for certain products, people will not buy them if they are too cheap because that can imply that they are bad quality and not worth the price. They will start loosing their true value. Some things that need a price floor are wages, electronics, and other elastic products like jewelry.