Answer:
A non-binding price ceiling
(iii) is set at a price above the equilibrium price.
Explanation:
Generally, a non-binding price ceiling is set at a price that is greater than or equal to the market equilibrium price. The price ceiling is the maximum price chargeable. The opposite of a price ceiling is the price floor (the minimum price that can be charged). A binding price floor, like a non-binding price ceiling, is usually set above the market equilibrium price, while a binding price ceiling is set below the market equilibrium price.
