Is price gouging a good thing or not?

Read “Florida Lawsuits Allege Price Gouging,” and “They Clapped: Can Price-Gouging Laws Prohibit Scarcity?

 

2) Read the article from chapter 4 in your textbook: “In the News: Price Increases after Disasters” (pages 84-85) – (Week 1).  Also read the article The Problem with Price Gouging Laws.

 

3) Watch the Price Gouging video above and the second price gouging video (Video 8) under the YouTube link under the Week 1 menu. (Video 9 is about price ceilings in the apartment rental market, you may wish to watch this for additional background on price ceiling impacts.)

 

4) Summarize the main points of each article and decide which graph (A, B, C, or D) can be used to explain each event and why – be specific. More than one graph may apply. (SupplyAndDemandGraphs2.doc and Supply and Demand Graphs.pptx ).

 

5) What is your conclusion? Is price gouging a good thing or not? Or is it just necessary? Explain why.

Paragraph can between 150 and 250 words.

 

The book im using for class is PRINCIPLES OF ECONOMICS 7TH EDITION BY N. GREGORY MANKIW

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