A price ceiling means that: 1.the government is imposing a legal price that is above the equilibrium
Fantastic news! We've Found the answer you've been seeking!
Question:
A price ceiling means that:
1.the government is imposing a legal price that is above the equilibrium price
2.sellers are trying to impose a minimum price to raise their revenues
3.the government is imposing a legal price that is below the equilibrium price
4.the relevant product is currently available in excess supply
5.buyers are attempting to impose a minimum price to minimize their expenditures
Posted Date: