What is a price ceiling example?

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Solution

Price ceiling refers to the maximum legal price one individual needs to pay for purchasing any goods or services or it is the maximum price that can be charged by a seller for any product or service.

Example: Limit on rent charged by landlords

Also read:

Difference Between Price Ceiling and Price Floor

Market Equilibrium

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Can you think of any commodity on which price ceiling is imposed in India? What may be the consequence of price-ceiling?

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