Ceiling Price And Floor Price Definition #3 The Impact Price Floors And Ceilings On Consumer Surplus And Producer Surplus

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Ceiling Price And Floor Price Definition #3 The Impact Price Floors And Ceilings On Consumer Surplus And Producer Surplus

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Essence of Ceiling Price And Floor Price Definition #3 The Impact Price Floors And Ceilings On Consumer Surplus And Producer Surplus

Ceiling

ceil•ing (sēling),USA pronunciation n. 
  1. the overhead interior surface of a room.
  2. the top limit imposed by law on the amount of money that can be charged or spent or the quantity of goods that can be produced or sold.
    • the maximum altitude from which the earth can be seen on a particular day, usually equal to the distance between the earth and the base of the lowest cloud bank.
    • Also called  absolute ceiling. the maximum altitude at which a particular aircraft can operate under specified conditions.
  3. the height above ground level of the lowest layer of clouds that cover more than half of the sky.
  4. a lining applied for structural reasons to a framework, esp. in the interior surfaces of a ship or boat.
  5. Also called  ceiling piece′. [Theat.]the ceiling or top of an interior set, made of cloth, a flat, or two or more flats hinged together.
  6. the act or work of a person who makes or finishes a ceiling.
  7. vaulting, as in a medieval church.
  8. hit the ceiling, [Informal.]to become enraged: When he saw the amount of the bill, he hit the ceiling.
ceilinged, adj. 

Price

price (prīs),USA pronunciation n., v.,  priced, pric•ing. 
n. 
  1. the sum or amount of money or its equivalent for which anything is bought, sold, or offered for sale.
  2. a sum offered for the capture of a person alive or dead: The authorities put a price on his head.
  3. the sum of money, or other consideration, for which a person's support, consent, etc., may be obtained, esp. in cases involving sacrifice of integrity: They claimed that every politician has a price.
  4. that which must be given, done, or undergone in order to obtain a thing: He gained the victory, but at a heavy price.
  5. odds (def. 2).
  6. [Archaic.]value or worth.
  7. [Archaic.]great value or worth (usually prec. by of ).
  8. at any price, at any cost, no matter how great: Their orders were to capture the town at any price.
  9. beyond or  without price, of incalculable value;
    priceless: The crown jewels are beyond price.

v.t. 
  1. to fix the price of.
  2. to ask or determine the price of: We spent the day pricing furniture at various stores.
pricea•ble, adj. 

And

and (and; unstressed ənd, ən, or, esp. after a homorganic consonant, n),USA pronunciation  conj. 
  1. (used to connect grammatically coordinate words, phrases, or clauses) along or together with;
    as well as;
    in addition to;
    besides;
    also;
    moreover: pens and pencils.
  2. added to;
    plus: 2 and 2 are 4.
  3. then: He read for an hour and went to bed.
  4. also, at the same time: to sleep and dream.
  5. then again;
    repeatedly: He coughed and coughed.
  6. (used to imply different qualities in things having the same name): There are bargains and bargains, so watch out.
  7. (used to introduce a sentence, implying continuation) also;
    then: And then it happened.
  8. [Informal.]to (used between two finite verbs): Try and do it. Call and see if she's home yet.
  9. (used to introduce a consequence or conditional result): He felt sick and decided to lie down for a while. Say one more word about it and I'll scream.
  10. but;
    on the contrary: He tried to run five miles and couldn't. They said they were about to leave and then stayed for two more hours.
  11. (used to connect alternatives): He felt that he was being forced to choose between his career and his family.
  12. (used to introduce a comment on the preceding clause): They don't like each other--and with good reason.
  13. [Archaic.]if: and you please.Cf. an2.
  14. and so forth, and the like;
    and others;
    et cetera: We discussed traveling, sightseeing, and so forth.
  15. and so on, and more things or others of a similar kind;
    and the like: It was a summer filled with parties, picnics, and so on.

n. 
  1. an added condition, stipulation, detail, or particular: He accepted the job, no ands or buts about it.
  2. conjunction (def. 5b).

Floor

floor (flôr, flōr),USA pronunciation n. 
  1. that part of a room, hallway, or the like, that forms its lower enclosing surface and upon which one walks.
  2. a continuous, supporting surface extending horizontally throughout a building, having a number of rooms, apartments, or the like, and constituting one level or stage in the structure;
    story.
  3. a level, supporting surface in any structure: the elevator floor.
  4. one of two or more layers of material composing a floor: rough floor; finish floor.
  5. a platform or prepared level area for a particular use: a threshing floor.
  6. the bottom of any more or less hollow place: the floor of a tunnel.
  7. a more or less flat extent of surface: the floor of the ocean.
  8. the part of a legislative chamber, meeting room, etc., where the members sit, and from which they speak.
  9. the right of one member to speak from such a place in preference to other members: The senator from Alaska has the floor.
  10. the area of a floor, as in a factory or retail store, where items are actually made or sold, as opposed to offices, supply areas, etc.: There are only two salesclerks on the floor.
  11. the main part of a stock or commodity exchange or the like, as distinguished from the galleries, platform, etc.
  12. the bottom, base, or minimum charged, demanded, or paid: The government avoided establishing a price or wage floor.
  13. an underlying stratum, as of ore, usually flat.
  14. [Naut.]
    • the bottom of a hull.
    • any of a number of deep, transverse framing members at the bottom of a steel or iron hull, generally interrupted by and joined to any vertical keel or keelsons.
    • the lowermost member of a frame in a wooden vessel.
  15. mop or  wipe the floor with, [Informal.]to overwhelm completely;
    defeat: He expected to mop the floor with his opponents.
  16. take the floor, to arise to address a meeting.

v.t. 
  1. to cover or furnish with a floor.
  2. to bring down to the floor or ground;
    knock down: He floored his opponent with one blow.
  3. to overwhelm;
    defeat.
  4. to confound or puzzle;
    nonplus: I was floored by the problem.
  5. Also,  floorboard. to push (a foot-operated accelerator pedal) all the way down to the floor of a vehicle, for maximum speed or power.
floorless, adj. 

Price

price (prīs),USA pronunciation n., v.,  priced, pric•ing. 
n. 
  1. the sum or amount of money or its equivalent for which anything is bought, sold, or offered for sale.
  2. a sum offered for the capture of a person alive or dead: The authorities put a price on his head.
  3. the sum of money, or other consideration, for which a person's support, consent, etc., may be obtained, esp. in cases involving sacrifice of integrity: They claimed that every politician has a price.
  4. that which must be given, done, or undergone in order to obtain a thing: He gained the victory, but at a heavy price.
  5. odds (def. 2).
  6. [Archaic.]value or worth.
  7. [Archaic.]great value or worth (usually prec. by of ).
  8. at any price, at any cost, no matter how great: Their orders were to capture the town at any price.
  9. beyond or  without price, of incalculable value;
    priceless: The crown jewels are beyond price.

v.t. 
  1. to fix the price of.
  2. to ask or determine the price of: We spent the day pricing furniture at various stores.
pricea•ble, adj. 

Definition

def•i•ni•tion (def′ə nishən),USA pronunciation n. 
  1. the act of defining or making definite, distinct, or clear.
  2. the formal statement of the meaning or significance of a word, phrase, etc.
  3. the condition of being definite, distinct, or clearly outlined.
  4. sharpness of the image formed by an optical system.
  5. the accuracy of sound or picture reproduction.
def′i•nition•al, adj. 
def′i•nition•al•ly, adv. 

The

the1  (stressed ᵺē; unstressed before a consonant ᵺə;
unstressed before a vowel ᵺē),USA pronunciation
 definite article. 
  1. (used, esp. before a noun, with a specifying or particularizing effect, as opposed to the indefinite or generalizing force of the indefinite article a or an): the book you gave me; Come into the house.
  2. (used to mark a proper noun, natural phenomenon, ship, building, time, point of the compass, branch of endeavor, or field of study as something well-known or unique):the sun;
    the Alps;
    theQueen Elizabeth;
    the past; the West.
  3. (used with or as part of a title): the Duke of Wellington; the Reverend John Smith.
  4. (used to mark a noun as indicating the best-known, most approved, most important, most satisfying, etc.): the skiing center of the U.S.; If you're going to work hard, now is the time.
  5. (used to mark a noun as being used generically): The dog is a quadruped.
  6. (used in place of a possessive pronoun, to note a part of the body or a personal belonging): He won't be able to play football until the leg mends.
  7. (used before adjectives that are used substantively, to note an individual, a class or number of individuals, or an abstract idea): to visit the sick; from the sublime to the ridiculous.
  8. (used before a modifying adjective to specify or limit its modifying effect): He took the wrong road and drove miles out of his way.
  9. (used to indicate one particular decade of a lifetime or of a century): the sixties; the gay nineties.
  10. (one of many of a class or type, as of a manufactured item, as opposed to an individual one): Did you listen to the radio last night?
  11. enough: He saved until he had the money for a new car. She didn't have the courage to leave.
  12. (used distributively, to note any one separately) for, to, or in each;
    a or an: at one dollar the pound.

Price

price (prīs),USA pronunciation n., v.,  priced, pric•ing. 
n. 
  1. the sum or amount of money or its equivalent for which anything is bought, sold, or offered for sale.
  2. a sum offered for the capture of a person alive or dead: The authorities put a price on his head.
  3. the sum of money, or other consideration, for which a person's support, consent, etc., may be obtained, esp. in cases involving sacrifice of integrity: They claimed that every politician has a price.
  4. that which must be given, done, or undergone in order to obtain a thing: He gained the victory, but at a heavy price.
  5. odds (def. 2).
  6. [Archaic.]value or worth.
  7. [Archaic.]great value or worth (usually prec. by of ).
  8. at any price, at any cost, no matter how great: Their orders were to capture the town at any price.
  9. beyond or  without price, of incalculable value;
    priceless: The crown jewels are beyond price.

v.t. 
  1. to fix the price of.
  2. to ask or determine the price of: We spent the day pricing furniture at various stores.
pricea•ble, adj. 

Floors

floor (flôr, flōr),USA pronunciation n. 
  1. that part of a room, hallway, or the like, that forms its lower enclosing surface and upon which one walks.
  2. a continuous, supporting surface extending horizontally throughout a building, having a number of rooms, apartments, or the like, and constituting one level or stage in the structure;
    story.
  3. a level, supporting surface in any structure: the elevator floor.
  4. one of two or more layers of material composing a floor: rough floor; finish floor.
  5. a platform or prepared level area for a particular use: a threshing floor.
  6. the bottom of any more or less hollow place: the floor of a tunnel.
  7. a more or less flat extent of surface: the floor of the ocean.
  8. the part of a legislative chamber, meeting room, etc., where the members sit, and from which they speak.
  9. the right of one member to speak from such a place in preference to other members: The senator from Alaska has the floor.
  10. the area of a floor, as in a factory or retail store, where items are actually made or sold, as opposed to offices, supply areas, etc.: There are only two salesclerks on the floor.
  11. the main part of a stock or commodity exchange or the like, as distinguished from the galleries, platform, etc.
  12. the bottom, base, or minimum charged, demanded, or paid: The government avoided establishing a price or wage floor.
  13. an underlying stratum, as of ore, usually flat.
  14. [Naut.]
    • the bottom of a hull.
    • any of a number of deep, transverse framing members at the bottom of a steel or iron hull, generally interrupted by and joined to any vertical keel or keelsons.
    • the lowermost member of a frame in a wooden vessel.
  15. mop or  wipe the floor with, [Informal.]to overwhelm completely;
    defeat: He expected to mop the floor with his opponents.
  16. take the floor, to arise to address a meeting.

v.t. 
  1. to cover or furnish with a floor.
  2. to bring down to the floor or ground;
    knock down: He floored his opponent with one blow.
  3. to overwhelm;
    defeat.
  4. to confound or puzzle;
    nonplus: I was floored by the problem.
  5. Also,  floorboard. to push (a foot-operated accelerator pedal) all the way down to the floor of a vehicle, for maximum speed or power.
floorless, adj. 

And

and (and; unstressed ənd, ən, or, esp. after a homorganic consonant, n),USA pronunciation  conj. 
  1. (used to connect grammatically coordinate words, phrases, or clauses) along or together with;
    as well as;
    in addition to;
    besides;
    also;
    moreover: pens and pencils.
  2. added to;
    plus: 2 and 2 are 4.
  3. then: He read for an hour and went to bed.
  4. also, at the same time: to sleep and dream.
  5. then again;
    repeatedly: He coughed and coughed.
  6. (used to imply different qualities in things having the same name): There are bargains and bargains, so watch out.
  7. (used to introduce a sentence, implying continuation) also;
    then: And then it happened.
  8. [Informal.]to (used between two finite verbs): Try and do it. Call and see if she's home yet.
  9. (used to introduce a consequence or conditional result): He felt sick and decided to lie down for a while. Say one more word about it and I'll scream.
  10. but;
    on the contrary: He tried to run five miles and couldn't. They said they were about to leave and then stayed for two more hours.
  11. (used to connect alternatives): He felt that he was being forced to choose between his career and his family.
  12. (used to introduce a comment on the preceding clause): They don't like each other--and with good reason.
  13. [Archaic.]if: and you please.Cf. an2.
  14. and so forth, and the like;
    and others;
    et cetera: We discussed traveling, sightseeing, and so forth.
  15. and so on, and more things or others of a similar kind;
    and the like: It was a summer filled with parties, picnics, and so on.

n. 
  1. an added condition, stipulation, detail, or particular: He accepted the job, no ands or buts about it.
  2. conjunction (def. 5b).

Ceilings

ceil•ing (sēling),USA pronunciation n. 
  1. the overhead interior surface of a room.
  2. the top limit imposed by law on the amount of money that can be charged or spent or the quantity of goods that can be produced or sold.
    • the maximum altitude from which the earth can be seen on a particular day, usually equal to the distance between the earth and the base of the lowest cloud bank.
    • Also called  absolute ceiling. the maximum altitude at which a particular aircraft can operate under specified conditions.
  3. the height above ground level of the lowest layer of clouds that cover more than half of the sky.
  4. a lining applied for structural reasons to a framework, esp. in the interior surfaces of a ship or boat.
  5. Also called  ceiling piece′. [Theat.]the ceiling or top of an interior set, made of cloth, a flat, or two or more flats hinged together.
  6. the act or work of a person who makes or finishes a ceiling.
  7. vaulting, as in a medieval church.
  8. hit the ceiling, [Informal.]to become enraged: When he saw the amount of the bill, he hit the ceiling.
ceilinged, adj. 

On

on (on, ôn),USA pronunciation prep. 
  1. so as to be or remain supported by or suspended from: Put your package down on the table; Hang your coat on the hook.
  2. so as to be attached to or unified with: Hang the picture on the wall. Paste the label on the package.
  3. so as to be a covering or wrapping for: Put the blanket on the baby. Put aluminum foil on the lamb chops before freezing them.
  4. in connection, association, or cooperation with;
    as a part or element of: to serve on a jury.
  5. so as to be a supporting part, base, backing, etc., of: a painting on canvas; mounted on cardboard; legs on a chair.
  6. (used to indicate place, location, situation, etc.): a scar on the face; the book on the table; a house on 19th Street.
  7. (used to indicate immediate proximity): a house on the lake; to border on absurdity.
  8. in the direction of: on the left; to sail on a southerly course.
  9. (used to indicate a means of conveyance or a means of supporting or supplying movement): on the wing; This car runs on electricity. Can you walk on your hands? I'll be there on the noon plane.
  10. by the agency or means of: drunk on wine; talking on the phone; I saw it on television.
  11. in addition to: millions on millions of stars.
  12. with respect or regard to (used to indicate the object of an action directed against or toward): Let's play a joke on him. Write a critical essay on Shakespeare.
  13. in a state or condition of;
    in the process of: on strike; The house is on fire!
  14. subject to: a doctor on call.
  15. engaged in or involved with: He's on the second chapter now.
  16. (used to indicate a source or a person or thing that serves as a source or agent): a duty on imported goods; She depends on her friends for encouragement.
  17. (used to indicate a basis or ground): on my word of honor; The movie is based on the book.
  18. (used to indicate risk or liability): on pain of death.
  19. (used to indicate progress toward or completion of an objective): We completed the project on budget.
  20. assigned to or occupied with;
    operating: Who's on the switchboard this afternoon?
  21. [Informal.]so as to disturb or affect adversely: My hair dryer broke on me.
  22. paid for by, esp. as a treat or gift: Dinner is on me.
  23. taking or using as a prescribed measure, cure, or the like: The doctor had her on a low-salt diet.
  24. regularly taking or addicted to: He was on drugs for two years.
  25. with;
    carried by: I have no money on me.
  26. (used to indicate time or occasion): on Sunday; We demand cash on delivery.
  27. (used to indicate the object or end of motion): to march on the capital.
  28. (used to indicate the object or end of action, thought, desire, etc.): to gaze on a scene.
  29. (used to indicate subject, reference, or respect): views on public matters.
  30. (used to indicate an encounter): The pickpocket crept up on a victim.
  31. on the bow, [Naut.]bow3 (def. 7).

adv. 
  1. in, into, or onto a position of being supported or attached: Sew the buttons on.
  2. in, into, or onto a position of covering or wrapping: Put your raincoat on.
  3. fast to a thing, as for support: Hold on!
  4. toward a place, point, activity, or object: to look on while others work.
  5. forward, onward, or along, as in any course or process: further on.
  6. with continuous activity: to work on.
  7. into or in active operation or performance: Turn the gas on.
  8. on and off, off (def. 22a).
  9. on and on, at great length, so as to become tiresome: They rambled on and on about their grandchildren.

adj. 
  1. operating or in use: The television set was on. Is your brake on?
  2. taking place;
    occurring: Don't you know there's a war on?
  3. performing or broadcasting: The radio announcer told us we were on.
    • behaving in a theatrical, lively, or ingratiating way: Around close friends, one doesn't have to be on every minute.
    • functioning or performing at one's best: When she's on, no other tennis player is half as good.
  4. scheduled or planned: Anything on after supper?
  5. [Baseball.]positioned on a base or bases: They had two men on when he hit the home run.
  6. [Cricket.]noting that side of the wicket, or of the field, on which the batsman stands.
  7. on to,  aware of the true nature, motive, or meaning of: I'm on to your little game.

n. 
  1. [Cricket.]the on side.

And

and (and; unstressed ənd, ən, or, esp. after a homorganic consonant, n),USA pronunciation  conj. 
  1. (used to connect grammatically coordinate words, phrases, or clauses) along or together with;
    as well as;
    in addition to;
    besides;
    also;
    moreover: pens and pencils.
  2. added to;
    plus: 2 and 2 are 4.
  3. then: He read for an hour and went to bed.
  4. also, at the same time: to sleep and dream.
  5. then again;
    repeatedly: He coughed and coughed.
  6. (used to imply different qualities in things having the same name): There are bargains and bargains, so watch out.
  7. (used to introduce a sentence, implying continuation) also;
    then: And then it happened.
  8. [Informal.]to (used between two finite verbs): Try and do it. Call and see if she's home yet.
  9. (used to introduce a consequence or conditional result): He felt sick and decided to lie down for a while. Say one more word about it and I'll scream.
  10. but;
    on the contrary: He tried to run five miles and couldn't. They said they were about to leave and then stayed for two more hours.
  11. (used to connect alternatives): He felt that he was being forced to choose between his career and his family.
  12. (used to introduce a comment on the preceding clause): They don't like each other--and with good reason.
  13. [Archaic.]if: and you please.Cf. an2.
  14. and so forth, and the like;
    and others;
    et cetera: We discussed traveling, sightseeing, and so forth.
  15. and so on, and more things or others of a similar kind;
    and the like: It was a summer filled with parties, picnics, and so on.

n. 
  1. an added condition, stipulation, detail, or particular: He accepted the job, no ands or buts about it.
  2. conjunction (def. 5b).
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