A surplus of supply results from the higher price regulation discouraging consumers from purchasing agricultural products.
The practice of setting prices by a regulatory body, legal statute, or governmental organization is known as price regulation. Pricing can be set at a minimum and/or maximum according to this policy.
A price control strategy is the setting of a lower or higher selling price cap for particular goods and services. In other words, the maximum and minimum prices for goods and services are determined by the government.
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