Question

Heya....frnds...i want to share something from you..***tomorrow is my birthday***
Now my today's question is.....Explain the implications of price floor and price ceiling .... Content quality required....

Answer 1

Heya mate!!!!!!!!^_^

_________________________

$\textbf{Answer:}$

Price ceilings only become a problem when they are set below the market equilibrium price. When the ceiling is set below the market price, there will be excess demand or a supply shortage. Producers won't produce as much at the lower price, while consumers will demand more because the goods are cheaper.

___________________________

Happy birthday to you!!!!!

HOPE THIS HELPS YOU ^_^
PLEASE MARK ME AS BRAINLIST
DON'T FORGET TO FOLLOW PLEASE

BE BRAINLY!!!!!!!

Answer 2

Price ceiling is practiced in an attempt to help consumers in purchasing necessary commodities which government believes to have become unattainable for consumers due to high price. However, price ceiling in a long run can cause adverse effect on market and create huge market inefficiencies. Some effects of price ceiling are shortage