Question

explain is price ceiling class 11​

Answer 1

Answer:

Explanation:

Selling price is the price at which a product or service is sold to the buyer. However, cost price is the price that is incurred to produce a product or provide a service to the buyer. The selling price is the sum total of the cost price and the profit margin set by the seller.

Answer 2

Answer:

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A price ceiling is a legal maximum price that one pays for some good or service. A government imposes price ceilings in order to keep the price of some necessary good or service affordable. For example, in 2005 during Hurricane Katrina, the price of bottled water increased above $5 per gallon.