Mathematics, 11.06.2020 16:57 Kyliehayden05
The feature states that in New Jersey, a law against price gouging prohibits price increases of more than 10 percent in an emergency situation. Assume that prior to Sandy the equilibrium price for portable generators was $100 and the equilibrium quantity was 200 units per month and generator sellers raised prices to the maximum amount allowed by law. Do you think that new higher price will be high enough to meet the increased amount?Use a supply and demand graph to explain your answer.
Answers: 3
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The feature states that in New Jersey, a law against price gouging prohibits price increases of more...
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