All the following are methods of determining prices ...
All the following are methods of determining prices except?
Maximum pricing
Rationing
Minimum pricing
Auctioning
Correct answer is D
A maximum price occurs when a government sets a legal limit on the price of a good or service – with the aim of reducing prices below the market equilibrium price.
Minimum Prices. It is known as minimum price or pricefloor when the government sets a minimum legal limit of a price of a particular good or service.
In economics, rationing refers to an artificial control of the supply and demand of commodities.
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