Maximum Prices (Price ceilings)

Maximum Prices (Price ceilings)

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Maximum Prices (Price ceilings)

A maximum price (Ceiling) occurs when a government sets a legal limit on the price of a good or service.

For example, the government may set a maximum price on bread of £1 or a maximum weekly rent that can be charged £150.

 

 

 

Tushar Depala

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