Exam (elaborations)
ECS1501 ASSIGNMENT 3 2021/22
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ECS1501 ASSIGNMENT 3 2021/22 2 When government imposes price ceilings and floors in markets [1] shortages and surpluses are eliminated. [2] both buyers and sellers are better off. [3] price no longer serves as a rationing mechanism. [4] efficiency in the market is increased. ------------------...
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