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Q: A price ceiling is a minimum price that the government establishes by law. Answer True False
A: A price ceiling is a minimum price that the government establishes by law. This is FALSE.
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User: A price ceiling is a minimum price that the government establishes by law. Answer True False



Weegy: The Government can set a legally imposed maximum price in a market that suppliers cannot exceed – in an attempt to prevent the market price from rising above a certain level. [ To be effective a maximum price has to be set below the free market price. One example of a maximum price might when shortage of essential foodstuffs threatens large rises in the free market price. Other examples include rent controls on properties – for example the system of rent controls still in place in Manhattan in the United States. ]
Expert answered|clouise|Points 289|

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Asked 7/16/2012 8:33:40 PM
Updated 5/14/2014 1:22:39 AM
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A price ceiling is a minimum price that the government establishes by law. This is FALSE.
Added 5/14/2014 1:17:55 AM
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Confirmed by jeifunk [5/14/2014 1:22:40 AM]
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