Assignment 4.1Assignment No 4.1 (Market equilibrium, total trade and p

Assignment 4.1Assignment No 4.1 (Market equilibrium, total trade and price controls)With the aid of supply and demand diagrams demonstrate that any effective price controls (i.e., either price ceilings below the equilibrium price, or else price floors above the equilibrium price) in a competitive market will reduce the actual quantity that can be traded (i.e. bought and sold) in that market.

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