When are price controls usually be used?
a. Price controls are usually used when there are profits in the market.
b. Price controls are usually used when the market is inefficient.
c. Price controls are usually used when there is monopoly power in the market.
d. Price controls are usually used when policymakers believe that the market price of a good or service is unfair to buyers or sellers.
Ans: d. Price controls are usually used when policymakers believe that the market price of a good or service is unfair to buyers or sellers.
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