Question

Does a price ceiling change the equilibrium price?

Short answer

No.

Step-by-step solution

Step1. Introduction 

Price ceiling is a level of price that is legally fixed above which the producers can't charge. It is fixed below the equilibrium price.

It is generally fixed for necessity goods.

Step2. Explanation

As explained, price ceiling is fixed below the equilibrium price in a market legally. The equilibrium price although remains the same as it is an economic concept affected by change in market demand and supply. Though the equilibrium price can not be attained due to legally fixed price ceiling, but the equilibrium continues to be the same, though unattainable.

The exchange however now takes place at the price ceiling, with quantity supplied getting traded fully (quantity supplied < quantity demanded) and leading to an excess demand situation.