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A price ceiling is a mechanism created by the government to protect consumers from conditions that could render price prohibitively expensive as well as protecting the business administration to manage the cost at a balanced level

Price Floor and Its Implication

When law set a base price, it is called Price Floor implications. We can set a price on or above Price floor but not...

Demand Curve

Before we know what demand curve is and the shifting of the demand curve we need to understand demand itself. Demand Curve in economics-Factors that...

What is Price Ceiling

A price ceiling is price control, limiting how high a price can be charged for a product or service. Price under the ceiling is...

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