What is a government-imposed maximum price at which a good can be sold

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A government-imposed maximum price at which a good can be sold is called a price ceiling. This is often done with the intention of making the good more affordable for consumers, but it can lead to shortages and decreased quality if suppliers are unable or unwilling to produce the good at the lower price. A price floor, on the other hand, is a government-imposed minimum price at which a good can be sold, and is often intended to support producers by ensuring they receive a certain level of income. A price support is a similar concept to a price floor, but is specifically targeted at certain industries, often through government subsidies. A price equilibrium is the point at which supply and demand for a good are equal, and there is no shortage or surplus of the good.

What Is a Government-Imposed Maximum Price at Which a Good