+10
1 year ago
Business
High School
A binding price ceiling is designed to c) keep prices below the equilibrium level.
A binding price ceiling is a term used to refer to a case whereby government sets a required price on a good or goods.
This price is usually set at a price below equilibrium.
Producers are are usually at the beneficial sides as a result of the binding price floor incase the price is higher than equilibrium price.
while Consumers are always worse off since they must pay more for a lower quantity.
Learn more about binding price at;
https://brainacademy.pro/question/19104371
Forgot your password?
Don't have an account? Sign up!
or go back to login page
A binding price ceiling is designed to c) keep prices below the equilibrium level.
What is a binding price?
A binding price ceiling is a term used to refer to a case whereby government sets a required price on a good or goods.
This price is usually set at a price below equilibrium.
Producers are are usually at the beneficial sides as a result of the binding price floor incase the price is higher than equilibrium price.
while Consumers are always worse off since they must pay more for a lower quantity.
Learn more about binding price at;
https://brainacademy.pro/question/19104371