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Which term is defined as the maximum legal price for a good or service? price floor price ceiling expansionary fiscal policy contractionary fiscal policy

2 Answers

4 votes

Answer:

Price Ceiling

Step-by-step explanation:

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User Varun Chatterji
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The term is defined as the maximum legal price for a good or service is price ceiling, it is a government-imposed price control or limit on how high a price is charged for a product. Governments intend price ceilings to protect consumers from conditions that could make commodities prohibitively expensive.
User Kaydene
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