Explain whether the price ceiling would make beef cheaper

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Reference no: EM133401959

Question: Some years ago, U.S. consumers were fed up with the high price of beef get it?!) They urged Congress to set a price ceiling on beef below the equilibrium price.

a. Explain whether the price ceiling would make beef cheaper for US consumers. b. Explain the effects of a price ceiling in the market for beef on the price of chicken.

Reference no: EM133401959

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