Advantages of a maximum price | Black market & a maximum price | Calculations & a maximum price | Ceiling Price | Maximum Price Control | Reasons for a maximum price
Explain why a black market is illegal.
Explain how a government price control measure is aimed to protect the interests of producers?
The market equilibrium is $400. If the government imposes a maximum price of $250, quantity supplied will ___________, quantity demanded will __________ and the price will __________.
In the interest of lower income groups would the government set a maximum or minimum price on items of mass consumption?
A maximum (ceiling) price control is set in the interests of the __________ and to be effective must be set __________ the equilibrium price.
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