Question

If low prices are the result of government intervention:

- overall consumer _____ can increase or decrease
- some consumers will be better off because they can buy a good or service at a _____ price
- some consumers will be worse off b/c they are unable to get access to _____ & _____

Answer 1

Government intervention in the form of low prices can have various effects on consumers.

Step-by-step explanation:

When low prices are the result of government intervention:

1. Overall consumer welfare can increase or decrease.
2. Some consumers will be better off because they can buy a good or service at a lower price.
3. Some consumers will be worse off because they are unable to get access to the limited supply and high demand for the good or service.