Economy, asked by shikhersrivasta, 1 year ago

what is meant by price ceiling ? Explain its implication.

Answers

Answered by Priyanshi3204

5

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. It has been found that higher price ceilings are ineffective. Price ceiling has been found to be of great importance in the house rent market.

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