a price ceiling is\n\na. a government - imposed minimum price that may be charged for a good or service…

a price ceiling is\n\na. a government - imposed minimum price that may be charged for a good or service, which can lead to surpluses\n\nb. a government - imposed maximum price that may be charged for a good or service, which can lead to shortages\n\nc. a government - imposed maximum price that may be charged for a good or service, which can lead to surpluses\n\nd. a government - imposed minimum price that may be charged for a good or service, which can lead to shortages

a price ceiling is\n\na. a government - imposed minimum price that may be charged for a good or service, which can lead to surpluses\n\nb. a government - imposed maximum price that may be charged for a good or service, which can lead to shortages\n\nc. a government - imposed maximum price that may be charged for a good or service, which can lead to surpluses\n\nd. a government - imposed minimum price that may be charged for a good or service, which can lead to shortages

Answer

Brief Explanations:

A price - ceiling is a government - imposed maximum price. When set below the equilibrium price, it creates a situation where quantity demanded exceeds quantity supplied, leading to shortages.

Answer:

B. a government - imposed maximum price that may be charged for a good or service, which can lead to shortages