Explain the meaning of ceiling price and state a reason for the government to implement it on petrol.
Question
Solution 1
A ceiling price is a government-imposed price control or limit on how high a price is charged for a product. It is set by law and limits the maximum price a seller can charge for a product or service.
The government may implement a ceiling price on petrol for several reasons. One of the main reaso Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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