--%>

Define price ceiling

Price ceiling: Price ceiling refers to the highest price fixed by the government beneath the market determined price (that is, equilibrium price) so that requirements might be made accessible to the common people at a reasonable price. In India the government has obligatory price ceiling on essential items such as wheat, rice, sugar and so on.

   Related Questions in Microeconomics

  • Q : Properties of production possibilities

    Describe properties of the production possibilities curve.

  • Q : Problem on siyazama production

    The table below  contains information about  the production possibilities frontier ( PPF or PPC)  of siyazama agricultural cooperative.

  • Q : Price ceiling below the equilibrium

    Setting a price ceiling below the equilibrium price will: (w) bring the equilibrium price down. (x) create excess demand at the maximum price. (y) create excess supply at the maximum price. (z) clear the market at the maximum price.

  • Q : Marginal utility of Goods and Bads When

    When Joe Glutton’s final bite of a burger yielded no profit in total utility, then Joe: (i) Don’t like hamburgers. (ii) Has reached the minimum utility from eating the burgers. (iii) Has reached the point where marginal utility of hamburgers is 0 (zero). (

  • Q : Define deficient demand or deflationary

    Define deficient demand or deflationary gap: Deficient demand occur whenever AD is less than AS at the level of full employment equilibrium

  • Q : Perfectly inelastic demand problem When

    When will an augment in supply entail a raise in price however no change in quantity?

  • Q : Elasticity and demand of monopolist

    When a monopolist produces output where demand is unitarily elastic, in that case marginal revenue equals: (1) price. (2) infinity. (3) negative infinity. (4) one. (5) zero. I need a good answer on the topic of

  • Q : Determine points where is most price

    Of all of the known ranges on given supply curves, the supply of tanks of dehydrated water is most price elasticity among: (i) point a and point b. (ii) point b and point c. (iii) point c and point d. (iv) point d and point e. (v) point e and point f.

    Q : Problem on Rational Ignorance Not

    Not learning the whole thing possible regarding someone prior to you marry them is an illustration of: (i) Adverse selection. (ii) Moral hazard. (iii) Economic dishonesty. (iv) Blind indifference. (v) Rational ignorance. Choose the

  • Q : Competitive pressures produce by

    Economic losses produce competitive pressures which decrease the industries: (w) output and number of firms. (x) prices and profits. (y) percentage mark-ups over costs. (z) long term labor turnover. I need a good a