Write economic implication of action in gasoline markets
Assume that the government imposed a price ceiling on gasoline in order to prevent prices from getting too high. What are the economic implication of this action in the gasoline markets? use graphs as needed and explain your answers thoroughly.
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Suppose that government imposed a price ceiling on gasoline to prevent prices from getting too high. Write the economic implication of action in gasoline markets?
To assess your capability to develop a model and simulate the decision process.
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Suppose that government imposed price floor on wages (minimum wage) to make sure that workers can earn living wage. is this price floor?
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