If price gouging is prohibited by the government so that sellers cannot suddenly raise prices, then a sudden drop in gasoline supply due to bad weather will most likely result in
A) an equilibrium in the gasoline market.
B) a surplus in the gasoline market.
C) a shortage in the gasoline market.
D) a sudden increase in the quantity demanded of gaslone.
E) a sudden decrease in gasoline prices.
Correct Answer:
Verified
Q1: Which of the following is not a
Q2: A price ceiling would result in a(n)
A)surplus.
B)shortage.
C)increase
Q4: The government can issue ration coupons to
Q5: Does a price ceiling result in a
Q6: Rent control for apartments in New York
Q7: A price ceiling is typically set below
Q8: In the case of a price floor,
A)there
Q9: Which of the following statements about price
Q10: One of the results of a price
Q11: A price floor that is effective results
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