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What is the maximum price that can legally be charged for a good or service?
Wiki User
∙ 8y ago
There is no maximum price for any good in the American economy some excised goods like cigarettes have minimum prices.
Kristin Roberts
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What are the importance of price ceiling?
A price ceiling is the legal maximum price that may be charged for a particular good or service.
What is the difference between price ceiling and price floor?
price ceiling: A legally determined maximum price that sellers may charge.price floor: A legally determined minimum price that sellers may receive.
What was established to set the maximum prices that could be charged on consumer goods?
Office of price administration
What is a price ceiling and a price floor?
Price ceiling- a legal maximum price that may be changed for a particular good or service. Price floor- a legal minimum price below which a good or service may not be sold.
Price ceiling is a maximum legal price that sellers can charge for a product or service. True or False?
True
A maximum amount that can be legally charged for a good or service?
price ceiling.
What is the maximum price that can be legally charged for a good or service called?
The maximum price that can be legally charged for a good or service is typically set by government regulations or price controls. This is done to protect consumers from price gouging and ensure fair competition in the market. Violating these regulations can result in penalties or fines for the seller.
What are the importance of price ceiling?
A price ceiling is the legal maximum price that may be charged for a particular good or service.
What are the importance of pricing?
A price ceiling is the legal maximum price that may be charged for a particular good or service.
What role does the government play in determining some prices?
Markets usually tend toward equilibrium, but in some cases, the government can jump in to control prices. The government can enforce a price ceiling, or a maximum price that can be charged for a good. Or they can form a price floor, or a minimum price that can be charged for a good or service.
What is the difference between price ceiling and price floor?
price ceiling: A legally determined maximum price that sellers may charge.price floor: A legally determined minimum price that sellers may receive.
What was established to set the maximum prices that could be charged on consumer goods?
Office of price administration
What is a price ceiling and a price floor?
Price ceiling- a legal maximum price that may be changed for a particular good or service. Price floor- a legal minimum price below which a good or service may not be sold.
Price ceiling is a maximum legal price that sellers can charge for a product or service. True or False?
True
What is a price floor?
A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product, good, commodity, or service.
How is price floor different from price ceiling?
A price floor is the minimum price set by the government where as a price ceiling is the maximum price sellers can charge for a good or service.
What it selling price per unit?
Selling Price per Unit is the amount of money charged to a customer for each unit of product or service.
