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Answer to Question #247382 in Microeconomics for Kiran
Question #247382
why does government impose price ceilings and price floors on certain commodities?who are the beneficiaries of both
Expert's answer
Government impose price ceilings to prevent a price from rising above a certain level. Price ceiling benefit consumers.
Government impose price floor to prevent a price from fallingbelow a certain level. Price ceiling benefit sellers.
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