What is 'price ceiling?

CA Foundation · Business Economics · MTP · September 2024
What is 'price ceiling?
(A) A. Minimum price that can be charged for a good
(B) B. Maximum price that can be charged for a good
(C) C. Minimum support price
(D) D. Both (a) and (b)

Suggested Answer and Working Notes:

Correct Answer: Option (B)

B. Maximum price that can be charged for a good

Topics: Nature & Scope of Business Economics

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