Question:

Consequences of Price Ceiling and Price Floor?

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What would be the intended and unintended consequences of Price Ceiling and Price Floor? I know what Price Ceiling and floor are, but why are the created?

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  1. intentions for price ceiling are:
    1. To curb inflation
    2. Accessibility of the poor to the products

    unintented are"
    1. shortage
    2. illegal activities
    3. quality reduction
    4. government rationing.

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