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What is meant by producers' preference? An allocation system where sellers are allowed to determine the method of allocation on the basis of their own

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What is meant by producers' preference? An allocation system where sellers are allowed to determine the method of allocation on the basis of their own preferences. The effect which a price change has on real income and therefore on the quantity demanded of a product. The preference which a government shows to certain producers through the introduction of price floors. A government regulation stipulating the maximum price which can be charged for a product

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