Questions tagged [price-control]
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What are the consequences of price-capping non-perishables undergoing temporary demand-spikes?
Due to the recent coronavirus outbreak (2020 for future readers), many consumers worldwide are overstocking on non-perishable products like toilet papers and hand sanitizers, in order to avoid ...
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effect of tax imposition on consumer and supplier with a price ceiling
Use a supply and demand diagram, suppose there's a valid price ceiling, say at 2. Now we add a specific tax of 1, to suppliers, what is the new consumer surplus, producer surplus, and tax revenue?
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What if the government impose both price control and supply restriction on the market?
Due to the virus outbreak, there is a surge in demand for mask and hand sanitizes. To prevent price hiking government impose a price ceiling on the products, however consumers are behaving irrational (...
