Multiple Choice
The state of Florida enacted anti-gouging legislation that imposes criminal penalties on individuals or firms that charge more for their goods or services after a disaster,like a hurricane or tornado,than they charged just prior to the disaster.Each of the following represents the social loss of this legislation,except:
A) people would have to search longer to find available scarce resources like ice,plywood,and hotel rooms.
B) people would spend more time waiting in lines to acquire some of the scarce goods like ice,plywood,and hotel rooms.
C) more people who have alternatives to consuming the scarce goods like ice,plywood,and hotel rooms at the higher prices would now consume them.
D) fewer people will demand the scarce goods like ice,plywood,and hotel rooms which will reduce the producer surplus
Correct Answer:

Verified
Correct Answer:
Verified
Q4: Which one of the following goods is
Q5: An excess demand for a good or
Q6: When there is an excess demand for
Q7: The demand and supply functions of a
Q8: Consider the demand curve Q = 50
Q10: When the market for a good,such as
Q11: Which of the following would result in
Q12: Let the market demand for rye bread
Q13: Which of the following violates the law
Q14: If a higher price results in no