Explain the effect of a price ceiling on the quantity of a good and who this intervention intends to assist.

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asked Apr 10, 2017 100k views

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Tread · Answer 1 · 2017-04-15T01:11:08+0000

A price ceiling is the maximum price a company is allowed to charge for that good. This is intended to assist the consumers so that they would not have to be an insane amount for a product.

Explain the effect of a price ceiling on the quantity of a good and who this intervention intends to assist.

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