Price controls are restrictions that are imposed to prevent monopolies by stopping a company from setting prices too low or too high.
What are Price Controls?
Price controls are restrictions imposed by governments, at prices that can be charged for goods and services in the market.
Price controls are believed to prevent monopolies by stopping a company from setting prices too low or too high.
Hence, Price Controls are government-mandated minimum or maximum prices that can be charged for specified goods. These are mainly done to prevent monopolies by stopping a company from setting prices too low or too high. Option A. is correct.
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