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Definition: Price ceiling is a situation when the price charged is more than or less than the equilibrium price determined by market forces of demand and supply. Description: Government imposes a price ceiling to control the maximum prices that can be charged by suppliers for the commodity.
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Price ceiling is a situation when the price charged is more than or less than the equilibrium price determined by market forces of demand and supply. ... Description: Government imposes a price ceiling to control the maximum prices that can be charged by suppliers for the commodity.
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