Suppose the government introduced a ceiling on lawyers fees. a. How would the amount of work done

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Suppose the government introduced a ceiling on lawyers’ fees.
a. How would the amount of work done by lawyers, the consumer surplus of people who hire lawyers, and the producer surplus of law firms change?

b. Would this fee ceiling result in an efficient and fair use of resources? Why or why not?

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Foundations Of Economics

ISBN: 9780135897478

9th Edition

Authors: Robin Bade, Michael Parkin

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Question Posted: Dec 28, 2022 03:50 AM

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Suppose the government introduced a ceiling on lawyers fees. a. How would the amount of work done

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a If the ceiling is set above the equilibrium fee the ceiling has no effect on the ...View the full answer

Foundations Of Economics

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