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January 15, 2016

Highlight the effect of instituting the following in an economy

(a) Define the term “price ring”
(b)Outline two factors that would ensure succesful implementation of a rice ring.
(c) Distinquish between a “price ceiling” and a “price floor”
(d) Highlight the effect of instituting the following in an economy
(i) Price floors
(ii) Price ceilings

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