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What is minimum price ceiling explain …

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What is minimum price ceiling explain its implications

    • Posted by Krishna Jalu 6 years ago

    CBSE > Class 11 > Accountancy
    • 1 answers

    Yogita Ingle 6 years ago

    For certain goods and services, Government, sets minimum price. This minimum price is called minimum price ceiling.

    This price is normally set at a level higher than the equilibrium price. This leads to axcess supply. Since producers are not able to sell all they want to sell, they illegally sell the good or service below the minimum price.

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