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MAEP101 Economic Principles Assignment Sample

Economic Terminology and Analysis Question/Answers Q1. The consumers always want a lower price while the sellers demand a higher price which leads to conflict of interests. If the consumers are successful in their lobbying then the government imposes a legal maximum price (price ceiling) at which the good can be sold. In response to high charges of the medical services charged to the consumers, the government of Thailand imposed price contr…

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