Asked by Samuella Agyemang on Jun 27, 2024
Verified
A maximum price legislated by the government is called:
A) a price support.
B) a price floor.
C) a price ceiling.
D) the parity price.
Price Ceiling
A legally imposed maximum price for goods or services, intended to protect consumers from high prices.
- Comprehend the principles and consequences of implementing price ceilings and floors in the markets for various goods and services.
Verified Answer
EN
Emrie NesimiJun 29, 2024
Final Answer :
C
Explanation :
A maximum price legislated by the government is called a price ceiling.
Learning Objectives
- Comprehend the principles and consequences of implementing price ceilings and floors in the markets for various goods and services.
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