A Price Ceiling Is
A total of 42000 schilling had been assumed in the settlement then in the calculation of that which the restitution claimants were actually owed the actual value of the property of 37000 schilling was also to be doubled.
A price ceiling is. Price ceilings are normally government imposed to protect consumers from swift price increases in basic commodities. A price ceiling is a maximum amount mandated by law that a seller can charge for a product or service. A price ceiling puts a limitation on the pricing system of sellers aiming to guarantee fair. As a doubled ceiling price of 21000 schilling ie.
For example if the market price of socks is 2 per pair and a price ceiling of 5 per pair is put in place nothing changes in the market since all the price ceiling says is that the price in the market cannot be greater than 5. A price ceiling is the highest price a supplier is allowed to set for a product or service. Its generally applied to consumer staples. Governments use price ceilings to protect consumers from conditions that could make commodities prohibitively expensive.
For the measure to be effective the price set by the price ceiling must be below the natural equilibrium price. A price ceiling is a government or group imposed price control or limit on how high a price is charged for a product commodity or service.
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