After a major disaster such as the 1994 Los Angeles earthquake and hurricanes such as Katrina, retailers
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After a major disaster such as the 1994 Los Angeles earthquake and hurricanes such as Katrina, retailers often raise the price of milk, gasoline, and other staples because supplies have fallen. In some states, the government forbids such price increases. What is the likely effect of such a law?
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The law would create a price ceiling at the preemerg...View the full answer
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