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Give the consequences of minimum price policy by the government

      

Give the consequences of minimum price policy by the government

  

Answers


Faith
There is dead weight loss due to the low quantity demanded since some transactions that would have taken place at the unregulated market price no longer occur
There is wasted resource resulting from surplus production of the commodity
The government is forced to purchase the excess supply which creates unnecessary expenditures.
Faimus answered the question on January 16, 2019 at 19:07


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