Answered

Explore IDNLearn.com's extensive Q&A database and find the answers you need. Get accurate and detailed answers to your questions from our dedicated community members who are always ready to help.

explain how a maximum price will affect a market?

Sagot :

Korlamvenulathaidn

Explanation:

A maximum price occurs when a government sets a legal limit on the price of a good or service – with the aim of reducing prices below the market equilibrium price. ... If the maximum price is set below the equilibrium price, it will cause a shortage – demand will be greater than supply

We greatly appreciate every question and answer you provide. Keep engaging and finding the best solutions. This community is the perfect place to learn and grow together. IDNLearn.com provides the answers you need. Thank you for visiting, and see you next time for more valuable insights.