Economy, asked by Haroon4742, 8 months ago

Differentiate between price support and price control..???

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Answered by nimnathomas14
0

Answer:

In economics, a price supportmay be either a subsidy or aprice control, both with theintended effect of keeping themarket price of a good higher than the competitive equilibrium level. In thecase of a price control, a price support isthe minimum legal price a seller may charge, typically placed above equilibrium.

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