With the help of a diagram discuss the effect of price, Business Economics

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With the help of a diagram discuss the effect of price

With the help of a diagram, discuss the effect of price ceiling imposed by the government on the welfare to the society (consumers' and producers' surplus)

a. If the ceiling price were set below the equilibrium price.

b. If the celing price were set above the equilibrium price.

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Business Economics: With the help of a diagram discuss the effect of price

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Business Economics: With the help of a diagram discuss the effect of price

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