If the government set a max price at $5 what would it be called and what would be the result?

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Janiyah Matthews

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21 January, 16:33

If the government set a max price at $5 what would it be called and what would be the result?

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Pinky · Answer 1

If the government set a max price at $5, (generally for a given product or service) that would be called "Price Ceiling", meaning that a seller cannot sell that product or service for over $5.