When the Market for a Good,such as Gasoline,is Competitive and Its

When the market for a good,such as gasoline,is competitive and its price suddenly increases substantially,we can infer:

A) that the higher price was most likely arbitrarily set by greedy gas companies seeking increased profits.
B) that the higher price was most likely a response to a change in market forces beyond any individual firm's control.
C) nefarious intent on the part of gasoline companies and that a government mandated price ceiling would serve consumers' interests.
D) that prices are not good indicators of relative scarcity.

Correct Answer:

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