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Discuss the concept of "Price Ceiling" w...

Discuss the concept of "Price Ceiling" with the help of diagram.

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Price ceiling refers to fixing the maximum price of a commodity that is lower than the equilibrium price.
As a result of price ceiling, the market price falls below the equilibrium price leading to excess demand.
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SANDEEP GARG-PRICE DETERMINATION AND SIMPLE APPLICATIONS-Long Answer Type Questions
  1. Market for a good is in equilibrium. What is the effect on equilibrium...

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  2. There is a simultaneous 'decrease' in demand and supply of a commodity...

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  3. When will (a) simultaneous increases and (b) simultaneous decreases in...

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  4. Market for a product is in equilibrium. Demand for the product 'decrea...

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  5. If the demand and supply of a commodity both increase, the equilibrium...

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  6. Market for a good is in equilibrium. There is simultaneous "Increase" ...

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  7. Market for a good is in equilibrium. There is simultaneous "decrease" ...

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  8. Market for a good is in equilibrium. Explain the chain of reactions In...

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  9. Market for a good is in equilibrium. There is simultaneous "increase" ...

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  10. Discuss the concept of "Price Ceiling" with the help of diagram.

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  11. If equilibrium price of a good is greater than its market price, expla...

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  12. Briefly discuss the meaning of "Price Floor" with the help of diagram.

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  13. Market for a product is in equilibrium. Supply of the product 'decreas...

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  14. Explain the changes that will take place in the market when market pri...

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  15. The market for commodity A is in equilibrium. The price of its inputs ...

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  16. Good Y is a substitute of good X. The price of Y falls. Explain the ch...

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  17. X and Y are complementary goods. The price of Y falls. Explain the cha...

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  18. Explain the meaning of excess demand and excess supply with the help o...

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  19. Define Price Floor. What is the common purpose of fixation of floor pr...

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  20. Define Price Ceiling. What is the common purpose for the price ceiling...

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