A legal price ceiling,if it is binding,is a
A)minimum price,below equilibrium,which price is not allowed to fall below.
B)maximum price,above equilibrium,which price is not allowed to exceed.
C)minimum price,above equilibrium,which price is not allowed to fall below.
D)maximum price,below equilibrium,which a price is not allowed to exceed.
E)any maximum price which price is not allowed to exceed.

Question

Quizplus · Accepted Answer

A binding price ceiling is set below the equilibrium price, preventing prices from rising above this level, leading to potential shortages.

A Legal Price Ceiling,if It Is Binding,is a