At the meat counter of a local supermarket, two shoppers were overheard complaining about the high price of hamburger. They concluded that government should not allow the price of hamburger to rise above $2.25 per pound. Do you think the shoppers would actually be better off if a price ceiling were imposed to lower hamburger prices? Why or why not?
What about the producers of beef?Would they be better or worse off with a price ceiling?
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