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The determination of whether to retain price regulation will be made following thorough consideration, as stated by Domestic Trade and Consumer Affairs Minister Datuk Seri

The determination of whether to retain price regulation will be made following thorough consideration, as stated by Domestic Trade and Consumer Affairs Minister Datuk Seri Alexander Nanta Linggi.The government implemented a price control plan from February 5 to June 5, setting a maximum price of RM8.90 per kilogramme for chicken. "Currently, we are engaged in the task of conducting observations and analysing the situation to determine whether we will proceed with the RM8.90 ceiling price or not," he informed reporters during the ministry's open house on Tuesday (May 2023). He stated that the government is currently conducting an investigation into allegations regarding the existence of chicken cartels. Nanta Linggi stated that the response to the elimination of Approved Permits has generally been favourable, while some importers expressed disappointment. He stated that the current focus is to fulfil the needs of the country. "This is temporary." "Once the supply is sufficient, we can allow them to resume exporting," he stated.The National Action Council on Cost of Living convened a special meeting on Jan 31 to discuss the food production business. During the discussion, it was resolved to decrease the maximum retail price for basic chicken by 20 sen, bringing it down from the ceiling price of RM9.10 to RM8.90. The government will make a decision on whether to retain the ceiling price of chicken. You can find more information at this link: https://www.thestar.com.my Retrieved on May 24, 2023

Respond to the following inquiries regarding the case study titled "Government to determine whether to retain the maximum price of chicken": a) Examine the distinction between the notion of a change in the quantity demanded and a change in the demand for chicken. The user's text consists of the phrase b) Illustrate the government's price control mechanism for chicken in Malaysia using a suitable diagram. The user's text is just indicating that there are 15 marks associated with the task or question at hand.

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