A price ceiling is:
A)a maximum price sellers can charge for a good or service.
B)the difference between the price consumers pay for a good and the price producers receive for selling the good.
C)a minimum price buyers must pay for a good or service.
D)the deadweight loss caused by the incidence of price over marginal cost.

Question

Quizplus · Accepted Answer

A price ceiling is a government-imposed limit on how high the price of a good or service can be. It is a maximum price that sellers can legally charge, usually designed to protect consumers from paying excessively high prices.

A Price Ceiling Is