Answer: An effective price ceiling is a price imposed by the government below the equilibrium price.
Explanation:
Price ceiling is a price control that is imposed by the government to curtail how high producers or suppliers charge price for a commodity or service. Price ceiling is used by the government to protect consumers from purchasing very high commodities. The very high prices of the good can be as a result of inflation, monopoly or investment bubble
For price ceiling to be effective, the price set must be below the equilibrium price (price set by the forces of demand and supply).
To combat and prevent Protestantism from spreading the Roman Inquisition, Pope Paul III established the Congregation of the Inquisition, also known as the Congregation of the Holy Office, in 1542.
