A law establishing a maximum legal price for a good or service is known as
A) an equilibrium price.
B) a price floor.
C) a price ceiling.
D) a price wall.

Name: A law establishing a maximum legal price for a good or service is known as A) an equilibrium price. B) a price floor. C) a price ceiling. D) a price wall.
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Question

Quizplus · Accepted Answer

A price ceiling is a legal maximum price that can be charged for a good or service, set by the government to prevent prices from being too high.

A Law Establishing a Maximum Legal Price for a Good