Market equilibrium in a perfectly competitive industry is to the equilibrium price as the effects of a price floor is to what?

Market equilibrium in a perfectly competitive industry occurs when the quantity of goods supplied equals the quantity demanded at a certain price, known as the equilibrium price. Similarly, a price floor, which is a minimum price set by the government, affects the market by preventing prices from falling below that level. When a price floor is set above the equilibrium price, it can lead to a surplus of goods because producers want to supply more at the higher price, but consumers are not willing to buy as much. For example, if the government sets a price floor on milk that is higher than the equilibrium price, farmers might produce more milk, but consumers may buy less, resulting in unsold milk. Thus, just as market equilibrium balances supply and demand, a price floor disrupts that balance, leading to excess supply.