Price of bread substantially below equilibrium

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Before economic reforms were implemented in the countries of Eastern Europe, regulation held the price of bread substantially below equilibrium. When reforms were implemented, prices were deregulated and the price of bread rose dramatically. Illustrate the market for bread before reforms and show the impact of reforms on quantity demanded and quantity supplied rose sharply. is this what is happening in the united states with gasoline? if so , what would be the result if the north American oil companies did not receive various federal subsidies to supply and demand curves?

Reference no: EM13887111

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