A-level Paper 1, June 2024Markets and Business Behaviour
A-level Paper 1, June 2024, Q4(b)
Which one of the following is an example of government failure associated with the maximum price?
Multiple choice1 mark
Context
In 2022 the government announced that the maximum undergraduate tuition fee for universities in England will remain at £9 250 per year for the next two years.
AContraction in demand
BDistortion of price signals
CExcess supply
DExtension in supply
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