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Suppose that governing authorities require that the price of food be zero. Assume that food is scarce. Explain why the quantity buyers would wish to
Suppose that governing authorities require that the price of food be zero. Assume that food is scarce. Explain why the quantity buyers would wish to buy would exceed the amount sellers would wish to sell under those circumstances. Use the definition of economics and managerial economics to answer this question. Also explain the graphic analysis to this answer.
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