Price Ceiling

maximum price at which a good can be sold legally (Economics)

A price ceiling is a government-imposed limit on how high a price can be charged on a product. For a price ceiling to be effective, it must differ from the free market price. In the graph at right, the supply and demand curves intersect to determine the free-market quantity and price.A price ceiling can be set above or below the free-market equilibrium price. In the graph at right, the dashed line represents a price ceiling set above the free-market price, called a non-binding price ceiling. In this case, the ceiling has no practical effect. The government has mandated a maximum price, but the market cannot be a price that high.
See more at Wikipedia.org...

A price, usually imposed by law, above which market prices are not permitted to rise; also called a Ceiling Price. See Price Floor.