What is ceiling price?

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Question: What is ceiling price?

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A price ceiling is a government- or group-imposed price control, or limit, on how high a price is charged for a product, commodity, or service. Definition: Price ceiling is a situation when the price charged is more than or less than the equilibrium price determined by market forces of demand and supply. A price ceiling is a government- or group-imposed price control, or limit, on how high a price is charged for a product, commodity, or service. A price ceiling is the mandated maximum amount a seller is allowed to charge for a product or. Definition of ceiling prices – When there is a limit placed on the increase of prices in a market. A price ceiling is a limit on the price of a good or service imposed by the government to protect consumers by ensuring that prices do not become prohibitively.

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Answered By:
Luv

Luv

Chandigarh, India

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