Answer to Question #333258 in Microeconomics for Alyanna

Question #333258

explain two reasons in favour of price gouging

1
Expert's answer
2022-04-24T17:24:23-0400

Price gouging occurs when a seller increases the prices of goods, services, or commodities to a level much higher than is considered reasonable or fair. Usually, this event occurs after a demand or supply shock. Common examples include price increases of basic necessities after natural disasters.


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