On why types of goods might the government impose an upper limits on cost to consumers

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asked Nov 1, 2022 72.1k views

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Theraven · Answer 1 · 2022-11-06T23:53:11+0000

Answer: The government may impose a maximum price for a variety of reasons. ... By reducing the price, it can help reduce relative poverty. Monopoly exploitation. If firms have monopoly power, they can charge high prices to consumers – higher than the marginal cost of production and higher than in a competitive market

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On why types of goods might the government impose an upper limits on cost to consumers

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