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As a result of Hurricane Andrew, prices of lumber and other construction materials increased. Which of...

As a result of Hurricane Andrew, prices of lumber and other construction materials increased. Which of the following is not true about these price increases? A. The increases were the result of some people buying up lumber and other materials before the hurricane hit so they could profit from the increased need for the materials of those impacted by the hurricane. B. The increases were the result of some people buying up lumber and other materials and then refusing to sell them in order to create a shortage of building materials. C. The price changes were a form of communication about the changing needs of users of these materials. D. The increases caused more materials to be available to users.

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Answer #1

As a result of Hurricane Andrew, prices of lumber and other construction materials increased. This was an unexpected event and people couldn't have prepared beforehand.

Due to hurricane, there must have been significant destruction to property and infrastructure. Hence for reconstruction, demand of lumber and other construction materials increase. By Law of demand, there prices increase. The price changes were a form of communication about the changing needs of users of these materials.

Correct Ans - C

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