Quantity of widgets (in thousands) What is the deadweight loss in the widgets market? I $ What is the deadweight loss in the gizmos market? Quantity of gizmos (in thousands)

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A: In an economy, a shift or a movement on the supply or demand curve explains the market condition.

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Price Ceilings and Price Floors

Price Ceilings and Price Floors strategy is used by the Government to control the prices of certain goods and services in the market. This method helps the Government to protect the interests of both buyers and suppliers in difficult economic times.