Question

What is control price? How does it affect the consumers?

Answer 1

Answer:

Explanation:

Price controls are government-mandated legal minimum or maximum prices set for specified goods. They are usually implemented as a means of direct economic intervention to manage the affordability of certain goods.

Standard economic theory predicts that new policies that reduce industry competitiveness and add substantially to business and industry costs will likely lead to higher consumer prices, reduced quantity of products and services and, perhaps, reduced quality and fewer choices for consumers.

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Answer 2

Answer:

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