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Business
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Economic Principles
Quiz 6: The Economic Efficiency of Markets
Path 4
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Question 101
Essay
After a natural disaster, is it possible for price gouging to lead to economic efficiency? Support your answer.
Question 102
Essay
Farmer Jones raises wheat. The equilibrium market price for wheat is $5.15 per bushel. However, government requires Farmer Jones to sell his wheat at $5.50 per bushel. What has the government done, and why would it do this?