Suppose that the local government determines that the price of food is too high and imposes a

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Suppose that the local government determines that the price of food is too high and imposes a ceiling on the market price of food that is below the equilibrium price in that locality. Predict some of the consequences of this ceiling.

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Law and economics

ISBN: 978-0132540650

6th Edition

Authors: Robert cooter, Thomas ulen

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Question Posted: Aug 11, 2012 03:08 AM

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Suppose that the local government determines that the price of food is too high and imposes a

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The adverse effects of a price ceiling with respect to rent control the pri...View the full answer

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