This assignment delves into the world of price ceilings and floors, examining their implications for market dynamics and government economic policies. Through a review of relevant literature and case studies, students will gain insight into the pros and cons of these pricing mechanisms and how they can be used to mitigate market failures. With a focus on real-world examples and theoretical frameworks, this assignment provides a comprehensive analysis of price ceiling and floor policies, enabling students to develop a nuanced understanding of economic theory and its applications.