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do the effects of price ceilings weaken over time? explain why or why not.

do the effects of price ceilings weaken over time? explain why or why not.

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yes the effect of price ceilings weaken over time due to change in the economic conditions of the country.

price ceiling is a price set by government above which seller can't charge price. government does price ceiling to protect consumers from exploitation.

some times price ceiling also leads to higher prices when price ceiling is set above the market price. and the effect of price ceiling changes when there is inflation or depression in the economy.

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