Answer: c. No effect
Explanation:
This is a non-binding price ceiling. A none-binding price ceiling is a price ceiling that is higher than the equilibrium price for a commodity in the market. As a result, there will be no effect on the market.
The reason being that a price ceiling is a price that companies and people are not meant to exceed. If this price is already higher than the equilibrium price, there would be no need to exceed or go below it it so there would be no effect.
