Economics 9708 · AS & A Level · Maximum and minimum prices

Maximum and minimum prices — practice question

A government introduces a subsidy to reduce the price of heating oil, sets maximum rents for apartments and establishes a national minimum wage rate. For each of these, who is intended to benefit?

  • Aheating oil market: consumers; apartment market: landlords; labour market: employers
  • Bheating oil market: consumers; apartment market: tenants; labour market: workers
  • Cheating oil market: producers; apartment market: landlords; labour market: workers
  • Dheating oil market: producers; apartment market: tenants; labour market: employers

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