What happens when the price of eggs soars? People buy fewer eggs and start looking for substitutes. What would happen if, say, government set a $10 minimum price on a dozen eggs, higher than the usual price in stores these days? People would buy fewer eggs, yet producers would want to sell all the eggs they could. Some eggs would sit around unpurchased.
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Ed Sealover reports, “Denver alone has seen 473 restaurants shutter in the past three years, leading to a loss of 21,000 jobs, largely because of the skyrocketing cost of doing business, said Democratic Reps. Alex Valdez and Steven Woodrow of the Mile High City, who are sponsoring HB 1208.”
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