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16 December, 05:30

explain the problems that occur when government institutes wage and price controls, and explain the rationale for these controls

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  1. 16 December, 05:34
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    If the government institutes wage and price control, companies may lose some profits. Usually if there is an increase in wages, a company will charge more to make up for the increased costs. However, if prices are also controlled by the government, companies may not be able to recover those increased costs.
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