A maximum price set below the equilibrium price is a:
A)demand price.
B)supply price.
C)price floor.
D)price ceiling.

Name: A maximum price set below the equilibrium price is a: A)demand price. B)supply price. C)price floor. D)price ceiling.
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Question

Quizplus · Accepted Answer

A maximum price set below the equilibrium price is called a price ceiling. Price ceilings are typically used to protect consumers from high prices, but can lead to shortages and other market inefficiencies.

A Maximum Price Set Below the Equilibrium Price Is A