I’m working on an economics case study about market equilibrium and I’m a bit stuck. The assignment asks to “analyze how government intervention (such as price ceilings) affects consumer surplus and producer surplus in the short and long run.”
I understand the basic concepts, but I’m not sure how to structure my answer or what kind of real-world examples would make the analysis stronger. Should I use graphs or focus more on written explanation?
Any advice, sample outlines, or references would be greatly appreciated!