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If the price is controlled at $35, this is a price

a) Ceiling
b) Floor
c) Subsidy
d) Surplus

1 Answer

4 votes

Final answer:

A price control that restricts the price of a good or service to a maximum level is called a price ceiling. In this case, if the price is controlled at $35, it means that it cannot go above that price. Price ceilings are often used to protect consumers from high prices and ensure affordability.

Step-by-step explanation:

A price control that restricts the price of a good or service to a maximum level is called a price ceiling. In this case, if the price is controlled at $35, it means that it cannot go above that price. Price ceilings are often used to protect consumers from high prices and ensure affordability.

User Mike Rifgin
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