A maximum price set below the equilibrium price is a:

A) demand price.
B) supply price.
C) price floor.
D) price ceiling.

Maximum Price

A price ceiling set by a governing body meant to control the maximum price that can be charged for a product or service, often implemented to prevent prices from reaching levels considered too high for consumers to afford.

Equilibrium Price

The price at which the quantity of a good supplied is equal to the quantity of the good demanded.

Price Ceiling

A legal maximum price that can be charged for a good or service, intended to protect consumers.