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Efficiency in the market is enhanced.
efficiency
controlled
the government can reduce the taxes on the commodities, it can also use price control that is price cealing
Consumer surplus
67
A price ceiling is a limit that the government puts on items. It is an attempt to prevent consumers from overpaying.
inflation
Price.
Controlled
price ceiling
Consumer surplus = Total amt consumers are willing to pay - Total amt consumers actually paid. Hence, if there is an increase in price of a good, consumer surplus decreases.