A price floor is usually fixed

A price floor is a minimum price that is set by a government or authority for a particular good or service. It is usually set above the equilibrium price, which is the market price where the quantity demanded and the quantity supplied of a good are equal. When a price floor is set above the equilibrium price, it causes a surplus of the good, as the quantity supplied exceeds the quantity demanded. In other words, producers are willing to supply more of the good than consumers are willing to buy at the higher price. Therefore, the correct option is "above the equilibrium and causes surplus."