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21 September, 02:54

Suppose that the government establishes a price ceiling of $3.70 for wheat.

a. why might the government establish this price ceiling?

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  1. 21 September, 05:21
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    If the government puts a price ceiling on wheat, they want to make sure that producers aren't selling wheat for a higher amount. A price ceiling is the max price that a producer can price an item to be. By doing this, they make sure that a producer isn't pricing items in demand up extremely high to charge a consumer an obsene amount.
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