Question

How might price controls on gasoline lead to human fatalities in an area where there is...

How might price controls on gasoline lead to human fatalities in an area where there is an oncoming hurricane

Homework Answers

Answer #1

When there is a price control in the market with a hurricane then the price will be set below the equilibrium price in the market, this will reduce the supply and prevent more sellers to sell their goods at a lower price in that area, higher demand and lower supply of goods will cause a shortage of necessary goods in the market, sojme of these goods could be life saver and a shortage of this could lead to black market and non availability will lead to fatalities.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
25. When the price of gasoline rose to $4.00 per gallon in the summer of 2008,...
25. When the price of gasoline rose to $4.00 per gallon in the summer of 2008, many people were outraged at how gas companies were "price gouging" individuals, and called for price controls on gasoline. If the government had agreed to legally cap the price of gasoline, would this have lowered the cost to consumers? Explain.
Estimate the mean price of regular gasoline in the Dayton area by taking a sample. I...
Estimate the mean price of regular gasoline in the Dayton area by taking a sample. I have collected 30 gas prices in the Dayton area 2.70, 2.40, 2.58, 2.51, 2.54, 2.57, 2.50, 2.60, 2.65, 2.52, 2.30, 2.55, 2.30, 2.59, 2.54, 2.68, 2.78, 2.75, 2.71, 2.61, 2.70, 2.56, 2.58, 2.60, 2.62, 2.69, 2.55, 2.40, 2.34, 2.56 What is the population you will be studying? What is the population parameter that you are wanting to measure? What is the sample mean? Construct...
Explain what would happen to either the supply curve, the demand curve, the price of gasoline...
Explain what would happen to either the supply curve, the demand curve, the price of gasoline and the quantity of gasoline traded at equilibrium if the following scenarios occurred. Provide a simple sketch of the appropriate shift in the appropriate curve. If President Sanders (how did he get here into our hypotheticals?) increased pollution controls on the production of gasoline, what would happen in the market for gasoline?
Price Controls for Medical Care. Consider a town where the equilibrium price of a doctor’s visit...
Price Controls for Medical Care. Consider a town where the equilibrium price of a doctor’s visit is $60 and the equilibrium quantity supplied is 90 patient visits per hour. For suppliers (doctors), each $1 increase in price increases the quantity supplied by two visits. For consumers, each $1 increase in price decreases the quantity demanded by one visit. Suppose that in an attempt to control the rising costs of medical care the government imposes price controls, setting a maximum price...
Please answer: How might the heavy metals such as (zinc & lead) be held in the...
Please answer: How might the heavy metals such as (zinc & lead) be held in the sediments? Can you describe how they might become mobile and enter the runoff when it rains?  
The price-demand equation for gasoline is 0.2d+2p=400.2d+2p=40 where pp is the price per gallon in dollars...
The price-demand equation for gasoline is 0.2d+2p=400.2d+2p=40 where pp is the price per gallon in dollars and d is the daily demand measured in millions of gallons. a. What price should be charged if the demand is 20 million gallons? $ b. If the price increases by $0.5, by how much does the demand decrease? million gallons
Describe what a CG island is, where it is found, and how it controls gene expression
Describe what a CG island is, where it is found, and how it controls gene expression
How might the area of the peripheral blood smear that is examined affect the WBC or...
How might the area of the peripheral blood smear that is examined affect the WBC or platelet estimate? How might a low RBC affect the area of the smear that is optimal to examine?
In this financial statement fraud, how and where do internal controls break down? Provide examples of...
In this financial statement fraud, how and where do internal controls break down? Provide examples of specific internal controls needed to reduce this type of fraud.
1. Describe the lags in the policymaking process and how they might lead to instability?,Why is...
1. Describe the lags in the policymaking process and how they might lead to instability?,Why is there an effectiveness lag for monetary policy?