Price controls are usually enacted when policymakers believe that the market price of a good or service is unfair to buyers or sellers. True or False.

Question: Price controls are usually enacted when policymakers believe that the market price of a good or service is unfair to buyers or sellers. True or False?

Answer

true

the price control, the price ceiling is used to protect buyer so that monopoly power does not increase price and price floor are used to protect the seller.