How would rationing by long lines best be described
A) inefficient, because it wastes buyers' time
B) efficient, because those who are willing to wait the longest get the goods
C) the only way scarce goods can be rationed
D) only necessary if price ceilings are not binding
Correct Answer:
Verified
Q17: Which statement best describes a price ceiling
A)A
Q18: Why do policymakers choose to enact price
Q19: Figure 6-1 Q20: What does a binding price ceiling cause Q21: When binding price ceilings are imposed in Q23: Figure 6-2 Q24: How can water shortages be most efficiently Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
A)a
