Home » Classroom » SS2 Economics Simple Application of Price Theory Question

Why is maximum price legislation used - SS2 Economics Simple Application of Price Theory Question

Why is maximum price legislation used?

Ask EduPadi AI for a Detailed Answer

Maximum price legislation, or price ceilings, is typically used to help consumers by ensuring that prices do not rise above a certain level. This can be especially important in markets where there is a limited supply of a good or service, as it can prevent prices from becoming unaffordable for some consumers.

Please share this, thanks:

#SS2 #SS2

Add your answer

Notice: Please post responsibly.

No responses