Government attempts to lower prices can:

Name: Government attempts to lower prices can:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When the government attempts to lower prices, they may impose price ceilings that prevent the market from reaching its equilibrium point where supply and demand curves intersect. This can result in shortages, long waiting times, and reduced quality. Therefore, attempting to lower prices may not always lead to a better outcome and can often create market inefficiencies.

Government Attempts to Lower Prices Can