Social Sciences, asked by paruchitti26, 1 year ago

short note on market support price

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Answered by rajji1

2

In eco. a price support may be either a subsidy or a price control, both with the intended effect of keeping the msrket price of a good higher than the competitive equillibrium level. In the case of price control, a price support is the minimum legal price of seller may charge, typically placed above equillibrium

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