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Question
Jamie, an economics student, was just named Miss Florida, based in part on her answer to the question of why price gouging laws should be relaxed in that state. Jamie won because she gave which of the following answers?
a. They prevent customers who are willing to pay higher prices for needed products from doing so during a time of disaster.
b. They cause consumers to consume more of certain products during a time of disaster.
c. They cause producers to overproduce products during a time of disaster.
d. They act as a binding price floor in a time of disaster.
e. They cause a surplus in the product during a time of disaster.
Answer
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