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A comment on America produces enough oil to meet its needs, so why do we import crude?. Parent comment
If you put a price ceiling of $1 on paintings, owners will hold and not sell.
If you want to kill the market for paintings, this would be very effective at doing so.
You can imagine similar impacts of price floors or ceilings for real goods like land and housing.
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If you put a price ceiling of $1 on paintings, owners will hold and not sell.
If you want to kill the market for paintings, this would be very effective at doing so.
You can imagine similar impacts of price floors or ceilings for real goods like land and housing.