What specific theory (model) do economists use to determine how much of a good or service is provided and at what price? Applying this model, show the effects of government interventions in a market to raise prices (set a price floor) and lower prices (set a price ceiling). Provide specific examples and illustrate your points. Submission should be between 500 and 800 words, In your answer you should identify and define in detail multiple theories. You should explain in detail how these theories are applied in the discipline of this course.
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