A price ceiling is: A. a maximum price that buyers are willing to pay for a good, usually set by government. B. a maximum price that sellers may charge for a good, usually set by government. C. a minimum price that sellers may charge for a good, usually set by government. D. a minimum price that buyers may charge for a good, usually set by those who sell the good.

Question

Business

Rachael Solomon

13 November, 00:04

A price ceiling is: A. a maximum price that buyers are willing to pay for a good, usually set by government. B. a maximum price that sellers may charge for a good, usually set by government. C. a minimum price that sellers may charge for a good, usually set by government. D. a minimum price that buyers may charge for a good, usually set by those who sell the good.

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Answers (1)

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Salma Sexton · Answer 1

The correct answer is letter "B": a maximum price that sellers may charge for a good, usually set by government.

Explanation:

A price ceiling is a maximum amount for a product or service that a seller can charge. A regulator, normally the local government, enforces price limits and is generally intended to protect low-income customers from being pushed off essential goods and services markets.