Q. "Illustrate what happens when a cheaper product is offered due to Impact of Government Imposed Price Ceiling that is below the equilibrium price?
Q. In a world with two products, wheat (W) and coffee (C), nation Alpha produces wheat and nation Beta produces coffee. Nation Alpha prefers an exchange rate of 1W = 2C and nation Beta prefers an exchange rate of 1W = 1C. The exchange rate preferred by nation?