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5. Governments impose price controls in an effort to help either consumers or producers. However experience has shown us that there are always winners and

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5. Governments impose price controls in an effort to help either consumers or producers. However experience has shown us that there are always winners and losers when price controls are imposed. a. What is the effect of raising minimum wage? b. Who are the winners and losers in this scenario and what do they win or lose? c. Overall does the government achieve its goal with this price control? Explain your answers

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