Why price increased and predict effects of a price control


Problem

The Federation of Vegetable Farmers Association of Malaysia reported that a lack of workers caused a 25% drop in production that drove up vegetable prices by 50% to 100% in 2005 ("Vegetable Price Control Sought," thestar.com.my, June 6, 2005). Consumers called for price controls on vegetables. Show why the price increased, and predict the effects of a binding price control.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Macroeconomics: Why price increased and predict effects of a price control
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