Summary
In this article, the government of Brazil had to implement a price ceiling, which is to control and lower down the prices of the gasoline...
Elasticity
Price elasticity of demand is the sensitivity of the quantity demanded towards a change in price. It express how sensitive the buyers are...
Price ceiling
A price ceiling is a price control that a government is enforced or set boundary on how high a price should be charged for a product and...
Market Structure
The oil industry has proven to be an oligopoly market structure. There is only a few firms dominating where the market is only shared...
