Price gouging laws are an example of
A) rules for keeping market prices low enough for buyers to afford the product.
B) a price ceiling.
C) rules to prevent a market shortage.
D) rules to prevent black market pricing.
E) prices to allow rationing to the highest bidder.

Question

Quizplus · Accepted Answer

Price gouging laws are an example of a price ceiling, which is a regulation that limits the highest price that can be charged for a product or service in a given market. They are often put in place during times of crisis, such as natural disasters, to prevent sellers from taking advantage of consumers by charging excessively high prices.

Price Gouging Laws Are an Example of