Question

A regulation that sets the highest price at which it is legal to trade a particular​...

A regulation that sets the highest price at which it is legal to trade a particular​ good, service, or factor of production is

A.an equilibrium price.

B.a peak price.

C.a price floor.

D.a sticky price.

E.a price ceiling.

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Homework Answers

Answer #1

Option E

A price floor is a price where trading above it is not legal, and this is effective if the price set below the equilibrium price.

An equilibrium price is a price where the market clears itself.

A peak price is the highest price increase in the highest demand time

The price floor is a minimum price can a company or producer charge, and it is effective if it set above the equilibrium price

A sticky price is a condition of the market where prices do not change immediately

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