Economic Log Entries
Wednesday, September 16, 2015
Why do price ceilings cause shortages? What is a black market and why might it alleviate shortages?
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Price ceilings are something that is set in place by the government which limits the price of a certain good or service. So if a price ceili...
Friday, September 11, 2015
How do gasoline companies answer the fundamental economic questions when price controls are not in place?
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Gasoline companies answer the fundamental economic questions when price controls are not in place by many different factors. The different f...
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