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What action will a producer usually take when the price charged is higher than the equilibrium price
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What action will a producer usually take when the price charged is higher than the equilibrium price

User Nickolay Merkin
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When a price floor is set above the equilibrium price, quantity supplied will exceed quantity demanded, and excess supply or surpluses will result. When government laws regulate prices instead of letting market forces determine prices, it is known as price control.
User FrickeFresh
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