Case Study (1): The Problems of Price Controls
As part of course assessment, it is required to study a case study and answer related questions. In doing so, you are required to read an article on “The Problems of Price Controls: History Shows that These Policies Lead to Shortages and Stagnation; so Why Do We Want to Control Prescription Drug Prices”,
It is available at: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=267243
After reading the article, kindly answer the following questions:
Kindly note: The due date for submitting the answer is 22 March 2023
– Discuss how does the government intervene in the market and what is the consequences of government intervention, use graph in case there is a need? (your answers should be between 300 to 400 words, 2.5 Marks),
Which markets that may the government intervene with reference to some examples from article and how did government intervene. ( your answer should be between 300-400 words, 3 2.5 marks)
