Ask Question
23 December, 07:26

Alabama this winter was socked in with snow which closed highways, stores and schools for weeks. Because of the road closures, soup was in greater demand but short on supply. The government put a temporary price ceiling on the cost of soup at $1. If the equilibrium for soup was at $5, what do you think happened?

+3
Answers (1)
  1. 23 December, 07:42
    0
    people start black market for selling soup and delivering soup

    Explanation:

    we know here in winter due to snow highway is close so no transportation and if store will close than demand will be increase and supply will reduce

    and if government reduce instant price up to 5 time for a short period than

    i think people will try to stock it because there was a great demand and supply is very less than people start black market for selling soup and delivering soup
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Alabama this winter was socked in with snow which closed highways, stores and schools for weeks. Because of the road closures, soup was in ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers