Economy, asked by raslimishal68, 4 months ago

Explain the concept of price ceiling use diagram

Answers

Answered by rajeevgupta39

Explanation:

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. Here in the given graph, a price of Rs. ... 3 has been determined as the equilibrium price with the quantity at 30 homes.

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