A legally imposed upper limit on a price is called
A)a price floor.
B)a price support.
C)an excise price.
D)a price ceiling.
E)a government price.

Question

Quizplus · Accepted Answer

A legally imposed upper limit on a price is called a price ceiling. A price floor is a legally imposed lower limit on a price, a price support is a government intervention to maintain the price of a product at a certain level, an excise price is a tax on a specific good or service, and a government price is a price set by the government on a product or service.

A Legally Imposed Upper Limit on a Price Is Called