Heterodox
It’s back to school time, so I’ve been pondering what might be helpful for students. In particular, I’ve becomine sort of obsessed withthe distinctions among “price floors,” “quantity ceilings,” and “price supports,” especially since we’ve seen a few (misguided?) examples of each as of late. So here is what you need to know about price supports in order to ponder their potential reasonableness.
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