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

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asked Jul 17, 2022 208k views

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Tom Potter · Answer 1 · 2022-07-22T06:29:20+0000

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The price ceiling intends to assist the consumers by setting the maximum price that the sellers could sell to the market. This usually will lower the number of goods that exist in the market. Mainly because many sellers will get a lot of their possible income cut off.

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

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