Price ceilings may be used on a selective basis to

Question

Quizplus · Accepted Answer

Price ceilings are used to limit the maximum price that can be charged for a particular good or service. The main objective is to make the good or service more affordable and accessible to all income levels, which is consistent with choice D. Price ceilings can be particularly effective in markets where there is a lot of competition, as businesses may be forced to reduce their prices to attract customers. However, price ceilings can also lead to shortages and inefficiencies in the market.

Price Ceilings May Be Used on a Selective Basis to