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Implicit in these analyses is the fact that without government we could have neither shortage nor surplus.  In large calculates, the suspicion of government is due to it has the power to make these sorts of peculiar market situations.   Even with the power of government to enforce law, the only way that a shortage or surplus could occur is if the price ceiling or the price floor were efficient. 

 

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9538821

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