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

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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.

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