Impact of economy according to price ceiling or price floor
If price ceiling or price floor were removed what is the impact on the economy?
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Price ceiling is government laws or rules setting price floors or ceilings that forbid the adjustment of price to clear marketplaces. Price ceilings make it illegal for sellers to charge more than a explicit maximum price. Ceilings may be announced when a shortage of a commodity threatens to raise its price a lot.
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This profit-maximizing lumber mill incurs total costs of approximately: (a) $2200 per day. (b) $3300 per day. (c) $4200 per day. (d) $5200 per day (e) $6200 per day. Discover Q & A Leading Solution Library Avail More Than 1433643 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1960979 Asked 3,689 Active Tutors 1433643 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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