The economic entity most likely to engage in price gouging is
A) the manufacturer of the product,such as a Honda generator.
B) a national big-box store,such as Target or Walmart.
C) a local,regular supplier of the product.
D) an individual or business who has a supply of the product somewhere else.
E) a local resident who wants to get rid of his or her own product.

Question

Quizplus · Accepted Answer

An individual or business who has a supply of the product somewhere else may engage in price gouging as they may have a monopoly on the product in the area it is needed and can therefore charge higher prices for it.

The Economic Entity Most Likely to Engage in Price Gouging