Can Price-Gouging Laws Prohibit Scarcity

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Read “Florida Lawsuits Allege Price Gouging,” and “They Clapped: Can Price-Gouging Laws Prohibit Scarcity? Summarize the main points and decide which graph (A, B, C, or D) can be used to explain each event and why. Supply and Demand Graphs.pptx and SupplyAndDemandGraphs2.doc. Read also in your textbook the article from chapter 4: “In the News: Price Increases after Natural Disasters” (page 83) Week 1 Article.pdf. The latter is assigned to help you form an opinion on the issue.
You should also watch the second Price Gouging video under the YouTube link under the Week 1 menu.
What is your conclusion? Is price gouging a good thing or not? Explain why.
As you submit your opinion, you need to refer to at least two different concepts from Chapters 1-4. Please refer only to concepts which are listed at the end of every chapter. They can be either named and defined at the beginning of your posts or within your discussion using CAPITAL LETTERS, otherwise your posts will be given only “participation” credit (not “illustration” credit). Your illustration of concepts MUST include an explanation why you think they are contained in the articles using specific information from the articles.
DO NOT illustrate more than two “key concepts” in any post. Good grades will be assigned only to students who respond by using concepts learned during week 1 and specific information from the articles. Your personal experiences can be helpful to clarify concepts and illustrations, but your grade will not be influenced by long posts containing only personal stories and opinions. You need to show both evidence of reading the articles and evidence of learning concepts from week 1.
1. Read the first two articles and explain how a specific graph (A, B, C, or D) can explain each case. You can use the same graph for both or a different graph for each article. Make sure to provide a good argument and refer to specific information from the articles.
2. Provide an opinion on price gouging while using at least two different “key concepts” from the chapters assigned during week 1 (chapters 1-4)
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