Maximum price

Maximum price,

Definition of Maximum price:

  1. The highest possible cost of a good or service that is legally permissible. Although an unregulated market rarely has a maximum price, other than what consumers are willing to pay perhaps, a market operating under some form of official price control may have such a constraint that a business will need to take into account in its planning process.

  2. A price for goods or services that may not legally be exceeded.

Meaning of Maximum price & Maximum price Definition