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Author Question: People often complain about price gouging after a disaster such as a hurricane. Suppose the ... (Read 42 times)

cabate

  • Hero Member
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  • Posts: 537
on: Jun 29, 2018
People often complain about price gouging after a disaster such as a hurricane. Suppose the government successfully prevented price increases due to the disaster. We would expect
 
  A) reconstruction to take longer because the quantity supplied of new materials would increase more slowly.
  B) reconstruction to take less time because the demand for materials would increase faster.
  C) reconstruction never to occur.
  D) reconstruction to take less time because the government could rebuild more quickly when people are not in the way.

Question 2

Suppose that the demand curve for apples is downward sloping and the price per bushel increases from 6.50 to 7.50. We would then expect
 
  A) the demand for apples to decrease.
  B) the quantity of apples demanded to fall.
  C) the demand curve to shift toward the origin.
  D) the quantity of apples demanded to increase.


akemokai

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

B


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