--%>

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 : Problem on mutual funds Provide

    Provide solution of this question. Supposing no other changes, if balances in small time deposits increase by $30 billion and money market mutual funds held by businesses decrease by $30 billion, the: A) M1 and M2 money supplies will not change. B) M2 and MZM money su

  • Q : Determine equilibrium at changing price

    Within this kinked demand curve model, when this firm operated at point a and increased its price from P2 to P3 but other firms did not increase their prices, in that cases equilibrium for this firm would move to be: (w) point b.

  • Q : Competition in the long run Economic

    Economic profits produce competitive pressures which raise the industries: (w) price for output. (x) output and number of firms. (y) exit rate for established firms. (z) monopoly power in its largest firms. Hey fri

  • Q : Problem on short run demand I have a

    I have a problem in economics on short run demand. Please help me in the following question. In short run, the demand mainly depends most on: (1) Supply. (2) Costs of production. (3) Consumer tastes and preferences. (4) Technology. (5) Resource access

  • Q : Least consistency for law of demand The

    The demand curve for socket sets from the list below which is least consistent along with the law of demand is: (w) demand curve D1D1. (x) demand curve D2D2.  (y) demand curve D3D3

  • Q : Firms and Transaction Costs An

    An individual or organization which simultaneously purchases low and sells high in various markets is a/an: (i) Angel duster. (ii) Escalator. (iii) Arbitrageur. (iv) Finagler.  (v) Optimizer. Can someone please help me in find

  • Q : Advantages of free market economy Give

    Give the best advantages of free market economy?

  • Q : Kinked demand curve for an oligopoly A

    A kinked demand curve for an oligopoly is probably when: (1) all the rival firms face identical demand curves. (2) rival firms are expected to match price cuts, but not price hikes. (3) firms ignore their rivals’ strategies when

  • Q : Profits and Losses-Natural selection

    The Natural selection theory states that the manager’s failures to maximize the profits cause: (i) Firing of its managers. (ii) The firm’s collapse. (iii) Outside take-overs. (iv) All of the above. Can someone please he

  • Q : Copyright laws for legal barriers to

    Copyright laws are least helpful in protecting the work of people who generate original: (i) lyrics and music. (ii) films. (iii) computer code. (iv) scientific theories. (v) poems or novels. How can I solve my Economics