Assignment 5 Government Price Controls Instructions: Answers must be hand-written and not exceed one page. Upload either a jpeg or pdf le to the assignment folder prior to the deadline. The cost of living is very high. You pay a lot for tuition, books, rent, food everything. Chapter ve of your book lays out ways the government can regulate prices. Would it be a good idea for the government to control prices at a lower level? Choose any market you wish and illustrate your answers to the following: a) Explain, in your own words, what you learned in chapter 5 about how the government could achieve this goal of lower prices, and the effects such a policy would have on the market for your chosen. b) Lay out all the winners & losers as a result of the policy. Is the net effect benecial? Explain. c) What is your personal opinion