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| 1. |
Define Maximum Price ceiling. |
| Answer» <html><body><p><br/></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/maximum-556915" style="font-weight:bold;" target="_blank" title="Click to know more about MAXIMUM">MAXIMUM</a> Price ceiling <a href="https://interviewquestions.tuteehub.com/tag/means-1091780" style="font-weight:bold;" target="_blank" title="Click to know more about MEANS">MEANS</a> the maximum price the <a href="https://interviewquestions.tuteehub.com/tag/producers-17149" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCERS">PRODUCERS</a> are allowed to charge. In other words, price ceiling is fixing the price of a <a href="https://interviewquestions.tuteehub.com/tag/commodity-923558" style="font-weight:bold;" target="_blank" title="Click to know more about COMMODITY">COMMODITY</a> at a lower <a href="https://interviewquestions.tuteehub.com/tag/level-1072714" style="font-weight:bold;" target="_blank" title="Click to know more about LEVEL">LEVEL</a> than the equilibrium price.</body></html> | |