Asked by Jordan Storberg on Jun 30, 2024
Verified
Define a price ceiling.
Price Ceiling
A legal maximum price that can be charged for a good or service, intended to protect consumers from excessive prices.
- Fathom the ramifications of price barrier policies on the equilibrium state of markets.
Verified Answer
ZK
Zybrea KnightJul 01, 2024
Final Answer :
A price ceiling is a legal maximum on the price at which a good can be sold.
Learning Objectives
- Fathom the ramifications of price barrier policies on the equilibrium state of markets.