Economy, asked by deepanshujaat8053, 11 months ago

What is Maximum Price? How is it determined?

Answers

Answered by Udayeswari

Answer:

maximum price occurs when a government sets a legal limit on the price of a good or service – with the aim of reducing prices below the market equilibrium price. For example, the government may set a maximum price of bread of £1 – or a maximum price of a weekly rent....

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