$$\begin{array} { | c | r | c | }
\hline \text { Quantity Demanded } & \text { Price } & \text { Quantity Supplied } \
\hline 52 & \$ 50 & 73 \
\hline 62 & 45 & 62 \
\hline 72 & 40 & 51 \
\hline 82 & 35 & 42 \
\hline 92 & 30 & 33 \
\hline
\end{array}$$ In this market, economists would call a government-set maximum price of $40 a

Question

$$\begin{array} { | c | r | c | } 
\hline \text { Quantity Demanded } & \text { Price } & \text { Quantity Supplied } \
\hline 52 & \$ 50 & 73 \
\hline 62 & 45 & 62 \
\hline 72 & 40 & 51 \
\hline 82 & 35 & 42 \
\hline 92 & 30 & 33 \
\hline
\end{array}$$ In this market, economists would call a government-set maximum price of $40 a

Quizplus · Accepted Answer

A government-set maximum price is called a price ceiling, which is the highest price that can be legally charged for a good or service. Therefore, option A is the best choice.

In This Market, Economists Would Call a Government-Set Maximum Price