An example of a price ceiling would be the government setting the price of sugar
A) above the equilibrium market price.
B) at the equilibrium market price.
C) below the equilibrium market price.
D) none of the above

Question

Quizplus · Accepted Answer

A price ceiling is a government-imposed limit on how high a price can be charged for a product, good, or service, and it is typically set below the equilibrium market price to make the product more affordable for consumers.

An Example of a Price Ceiling Would Be the Government