Price support will be beneficial to producers but costly to consumers.
Price support refers to efforts by a government to keep the price of a commodity higher than it should be were it priced based on supply and demand.
Ways the government can do this include:
- Subsidies
- Production quotas - limiting the quantity produced
- Price controls
Price supports make prices higher than they should be which would give producers more profit therefore tennis racket producers benefit.
On the other hand, they make things more expensive for consumers who will be forced to spend more than they usually do on tennis rackets thereby making it costly to them.
In conclusion, price controls help producers but are costly to consumers.
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<span>The Fed responded to the crisis by lending money to banks. This ensured that banks had the capital needed to continue daily operations. Additionally, the Fed lowed the federal funds rate. The actions taken by the Fed helped to lower interest rates in order to encourage borrowing and spark economic growth. </span>
Answer:
a process performed with numbers
