Are china''s price controls price floors or price ceilings

Reference no: EM131298504

Coal shortage at China plants The government of China has set price controls on coal and gasoline in an attempt to shield poor urban families and farmers from rising world energy prices. Chinese power plants have run short of coal, sales of luxury, gas-guzzling cars have increased, and gasoline consumption has risen. Oil refiners are incurring losses and plan to cut production.
Are China's price controls price floors or price ceilings? Draw a graph to illustrate the shortages of coal and gasoline created by the price controls.

Reference no: EM131298504

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