The presence of a price control in a market for a good or service usually is an indication that a, an insufficient quantity of the good or service was being produced in that market to meet the public's need b. the usual forces of supply and demand were not able to establish an equilibrium price in that market policymakers believed that the price that prevailed in that market in the absence of price controls was unfair to buyers or Oc sellers policymakers correctly believed that price controls would generate no inequities of their own once imposed Od

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06-12-2022
Business

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The presence of a price control in a market for a good or service usually is an indication that a, an insufficient quantity of the good or service was being produced in that market to meet the public's need b. the usual forces of supply and demand were not able to establish an equilibrium price in that market policymakers believed that the price that prevailed in that market in the absence of price controls was unfair to buyers or Oc sellers policymakers correctly believed that price controls would generate no inequities of their own once imposed Od

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A price restriction is typically a sign that (C) Policymakers think the price that predominated in a market for a good or service in the absence of price controls was unfair to buyers or sellers.

By adjusting the going rate, price controls like price floor or price ceiling protect the interests of either buyers or sellers. For instance, price ceilings favor buyers in the case of property, whereas price floors favor sellers in the case of milk or wheat.

Government regulations on wages, prices, or their rates of change are known as price controls. Such restrictions may be imposed by governments on a variety of products and services or, more frequently, on a market for a particular good.

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