Governments continue to impose price controls. Which statement is NOT a valid explanation of this? a. Price floors are often imposed because they benefit some influential sellers. b. People fear that prices will change dramatically if price controls are removed. c. Government officials often disregard warnings about the consequences of price controls. d. The model of price floors is not fully understood.

Governments continue to impose price controls. Which statement is NOT a valid explanation of this? a. Price floors are often imposed because they benefit some influential sellers. b. People fear that prices will change dramatically if price controls are removed. c. Government officials often disregard warnings about the consequences of price controls. d. The model of price floors is not fully understood.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter6: Supply, Demand And Government Policies

Section6.1: Controls On Prices

Problem 1QQ

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