A price imposed by the government below an equilibrium price is called a ____

Business

1 answer:

ehidna [41]2 years ago

6 0

Answer:

Price ceiling

Explanation:

When the government imposed a price ceiling in a market of goods which means that price set by the government lies below the equilibrium price of an economy. Price ceiling results in a higher demand for the goods because people wants to buy more quantity of goods at a lower price. But supplier of the goods wants to reduce supply as it will become less profitable for the producers to sell the product at a lower price.

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