Why exactly does a price ceiling cause a shortage

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Reference no: EM132617669

Question: By taking a case of Ethiopian Government involvement in price adjustment (Price Ceiling) in the recent past, answer the following questions. (Please refer sources like media (print media like newspapers or magazines, published reports and put as reference).

a. Explain causes, the consequence, and success of the adjustment decision of government?

b. What is the effect on the price, quantity demanded of the product, and quantity supplied?

c. Why exactly does a price ceiling cause a shortage?

d. In what type of market structure do government intervene interms of Price ceiling and price floor? Take an example and describe.

Reference no: EM132617669

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