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What is the impact on the economy if price ceiling or price floor were removed?
Ans) Price ceiling is government system or laws setting price floors or ceilings that forbid the adjustment of price to clear markets. Price ceilings make it illegal for sellers to charge more than a exact maximum price. Ceilings may be introduced when a shortage of a commodity threatens to increase its price a lot.
America can produce 100 shirts or 20 computers and China can produce 100 shirts or 10 computers. With trade, who exports shirts? Which country benefits from the trade?
MEC and MEI curvs and their role in economics
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What is the primary difference between a research project and a product development project?
What is the impact on the economy if price ceiling or price floor were removed? Ans) Price ceiling is government system or laws setting price floors or ceilings that forbid the
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