Why do price floors and price ceilings both reduce the quantity of goods traded in those markets?

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Exploring Economics

ISBN: 9781439040249

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Authors: Robert L Sexton

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Question Posted: Feb 07, 2013 06:04 AM

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Why do price floors and price ceilings both reduce the quantity of goods traded in those markets?

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When a price floor is imposed above the equilibrium price the quantity demanded by buyers falls ...View the full answer

Exploring Economics

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