Correct option is D. A legal minimum on the price at which a good can be sold is called a price ceiling.
The price ceiling is the most a seller is permitted to demand for a good or service. Price Ceiling are frequently implemented to things like food and energy supplies when they grow out of reach for the average customer and are typically mandated by legislation.
In essence, price ceilings are a form of price control. Price ceiling can be advantageous since they make necessary things, at least temporarily, affordable. However, economists debate the long-term value of these constraints.
Price ceiling may appear to be clearly beneficial for consumers, but they also have long-term effects. Undoubtedly, expenses decrease in the near term, which may increase demand.
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