The supply and demand curves for train tickets between two towns is: Qd = 20,100 - 50P Qs = 100P .
If the government refuses the train company to increase the ticket price, how will this affect the curve? Will there be any shifts? What other effects arise from this? I think this will lead to negative externality and market failure perhaps but I'm unsure. I am self-teaching myself econ at the moment, thanks.
Over the Easter break