Price ceiling is to market shortage as price floor is to what?

A price ceiling is a maximum limit on how high a price can be charged for a product. When a price ceiling is set below the market equilibrium, it often leads to a shortage because more people want to buy the product at the lower price, but producers do not want to supply enough of it. On the other hand, a price floor is a minimum limit on how low a price can be charged. When a price floor is set above the market equilibrium, it can lead to a surplus, meaning there is more of the product available than people want to buy at that price. For example, if the government sets a minimum price for milk that is higher than what consumers are willing to pay, farmers might produce a lot of milk, but many consumers will not buy it, resulting in leftover milk that goes unsold.