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Based on the above article, answer the following questions. a. Explain the meaning of ceiling price and state a reason for the government to implement
Based on the above article, answer the following questions.
a. Explain the meaning of ceiling price and state a reason for the government to
implement it on petrol.
(3 marks)
b. Based on the information given in the article, illustrate diagrammatically the ceiling
price.
(3 marks)
c. Explain two (2) disadvantages of implementing a ceiling price on petrol.
(2 marks)
d. How would one consider the relationship between the two goods, petrol and car?
Justify your answer.
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