factsverse200 factsverse200

03-04-2021
Business

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explain how a maximum price will affect a market?

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korlamvenulatha korlamvenulatha

03-04-2021

Explanation:

A maximum price occurs when a government sets a legal limit on the price of a good or service – with the aim of reducing prices below the market equilibrium price. ... If the maximum price is set below the equilibrium price, it will cause a shortage – demand will be greater than supply

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