Business, 01.11.2019 06:31 jaydahh4059
In the recent years, prices of basic food commodities such as corn, rice, and wheat have increased sharply. a recent article in the wall street journal states that chinese authorities are concerned that escalating prices will cause inflation and be followed by civil unrest. (source: wall street journal, february 20, 2011) if the chinese government sets a price ceiling below the equilibrium price, the result will be i. an increase in the quantity demanded. ii. a decrease in the quantity supplied. iii. a shortage.
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In the recent years, prices of basic food commodities such as corn, rice, and wheat have increased s...
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