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Question
What is the price ceiling and price floor?
What is the price ceiling and price floor?
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Solution
Price ceiling is the highest price that can be charged by a seller for any kind of product or services.
Price floor refers to the lowest possible price that can be charged by a seller for goods and services.
Also read:
Learn about more questions and answers on business studies and various other commerce topics from our website.
Price ceiling is the highest price that can be charged by a seller for any kind of product or services.
Price floor refers to the lowest possible price that can be charged by a seller for goods and services.
Also read:
Learn about more questions and answers on business studies and various other commerce topics from our website.
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