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In a mixed economy, what role does the government often play in pricing?
  • a)
    Determining prices based on supply and demand
  • b)
    Setting prices to maximize short-term profits
  • c)
    Controlling relative prices to achieve certain targets
  • d)
    Allowing complete freedom for businesses to set prices
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
In a mixed economy, what role does the government often play in pricin...
In a mixed economy, the government often plays a role in controlling relative prices to achieve certain targets. This may involve price controls, minimum prices, or other regulatory measures.
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In a mixed economy, what role does the government often play in pricing?a)Determining prices based on supply and demandb)Setting prices to maximize short-term profitsc)Controlling relative prices to achieve certain targetsd)Allowing complete freedom for businesses to set pricesCorrect answer is option 'C'. Can you explain this answer?
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