Answered

IDNLearn.com offers a comprehensive solution for finding accurate answers quickly. Discover reliable answers to your questions with our extensive database of expert knowledge.

The dictator of a small country restricts the price of cars to an amount less than or equal to $1,200 (a price below the equilibrium price for cars). Such a policy would set a:

Sagot :

The policy that can be brought about by the action of the dictator is a price ceiling.

What is price ceiling?

Price ceiling simply means when the government decides the maximum price of a good.

In this case, when the dictator of a small country restricts the price of cars to an amount less than or equal to $1,200 which is a price below the equilibrium price for cars, the policy would set a price ceiling.

Learn more about price ceiling on:

https://brainly.com/question/1448982

Your participation is crucial to us. Keep sharing your knowledge and experiences. Let's create a learning environment that is both enjoyable and beneficial. Discover the answers you need at IDNLearn.com. Thank you for visiting, and we hope to see you again for more solutions.