A maximum price, set by the government, that sellers may charge for a good is known as

A) a price floor.
B) a price rationing mechanism.
C) a price ceiling.
D) a subsidy.

Maximum Price

A price ceiling set by the government or a regulatory body, above which a product or service cannot be sold in the market.

Price Ceiling

A government-imposed limit on how high a price can be charged for a product, service, or commodity.

Government

Government is the system or group of people governing an organized community, often a state.