--%>
Assignment Help - homework help

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 : Resource demands from purely

    Relative to the resource demands from purely competitive sellers, demands through imperfectly competitive firms for resources tend to: (1) Perfectly price elastic. (2) Upward sloping. (3) Backward bending. (4) Less price elastic. (5) Perfectly price inelastic.

  • Q : Structure conduct performance paradigm

    From about 1890 till 1970 year, the “structure-conduct-performance paradigm” dominated theories regarding how firms behave in various types of markets. The term here “performance” in this context refers to those things as: (i)

    		•
  • Q : Economically non–viable industry What

    What happened when demand and supply curve do not intersect with each other? Answer: The outcome is: Economically non–viable industry.

    		•
  • Q : Demand for Complementary Goods Can

    Can someone help me in finding out the right answer from the given options. Reductions in the price of tea are most probable to raise the demands for: (i) Lemons, ice cubes and sugar. (ii) Cola, coffee and hot cocoa. (iii) Mint juleps, Daiquiris and moonshine. (iv) Va

    		•
  • Q : Exit from a competitive industry Exit

    Exit from a competitive industry will carry on till economic: (w) losses are driven to zero. (x) profits precisely offset accounting losses. (y) profit exceeds accounting profit. (z) resources have minimum incomes.

  • Q : Economically inefficient level of output

    A monopolist produces an economically inefficient level of output since: (i) the difference among marginal revenue [MR] and marginal costs [marginal costs [MC] is maximized. (ii) P > average total costs [ATC], therefore MSB < MSC. (iii) all cons

    		•
  • Q : Important of economies of scale to

    Karl Marx's prediction which competition ultimately leads to monopoly is most likely to be valid while: (w) diseconomies of scale discourage competition. (x) there are always constant returns to scale. (y) economies of scale are important relative to

    		•
  • Q : Determine market demand in curve The

    The market demand curve as in demonstrated figure for Christmas trees is: (i) curve A. (ii) curve E. (iii) curve F. (iv) curve G. (v) curve J.

    Q : Problem on market demand for housing

    All as well equivalent, population growth would tend to rise the: (i) Demand for housing for each and every family. (ii) Supply of natural resources. (iii) Shares of family budgets spend on luxuries. (iv) Market demand for housing.

  • Q : Feature of constant elasticity demand

    A constant elasticity demand curve as: (w) cannot be negatively sloped. (x) must be a straight line. (y) cannot be a negatively sloped straight line. (z) has a positive slope. I need a good answer on the topic of <

    		•