Explanation

The objectives of price control (minimum and maximum) are:
(i) to prevent exploitation of consumers by producers.
(ii) to avoid or control inflation.
(iii) to help low income earners, e.g. minimum wage.
(iv) to control the profits of companies (especially monopolies).
(v) to prevent fluctuation in income of some producers, e.g. agricultural producers
(vi) to stabilize the income of some producers, e.g. farmers. 
 

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