If Price Gouging Is Prohibited by the Government So That

question 72

Multiple Choice

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)high profits for sellers.
• E)a sudden increase in the gasoline supply.

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