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Sagot :
Rent 0, 1 or Rent control results in shortages, a decline in product quality, and lines, like other price ceiling do.
An auction price ceiling is what?
When a price ceiling is established just under the market equilibrium price, a binding price ceiling results. Because there is a scarcity at the price ceiling, a legally binding price controls will cause one.
Why are price caps employed?
Price caps are implemented in an effort to maintain affordable costs for people who need the product. However, when the sale price is prevented from increasing toward the market equilibrium, quantity sought outpaces supply, leading to a shortage.
To know more about price ceilings visit:
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