what is a price ceiling 
a price ceiling is the mandated maximum amount that a seller is permitted to charge for a product or service price ceilings are usually set by law and are typically applied to staples such as food and energy products when these goods become unaffordable to regular consumers price ceilings are essentially a type of price control they can be advantageous in allowing essentials to be affordable at least temporarily but economists question how beneficial such ceilings are in the long run investopedia paige mclaughlin