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is price gouging immoral? Should it be illegal? Do you think this issue is related to...

is price gouging immoral? Should it be illegal? Do you think this issue is related to tbe characteristics of a monopoly? Yes, how? if no, how are the two concepts different?

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Yes price gouging is immoral and it can be termed as illegal. Though the price of a good is determined by the demand and supply forces, but acts like creation of artificial scarcity at times would lead to exploitation of people and would have to pay higher prices. No it cannot be related to characteristic of monopoly. Monopoly arrives because of unique product, resource scarcity, inability to enter into certain areas because of government restrictions where as price gouging is a temporary act which depends on the situation.

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