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6 Thousands of Gouging Complaints after Hurricane Matthew After Hurricane Matthew, more than 2,000 Florida consumers complained of price gouging to the State Attorney General.

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Thousands of Gouging Complaints after Hurricane Matthew After Hurricane Matthew, more than 2,000 Florida consumers complained of price gouging to the State Attorney General. Two examples: a hotel room normally $65 a night cost $150, and a $1 bottle of water was $5. In a declared state of emergency, "unconscionable prices" are prohibited. Source: news-press.com, October 7, 2016 Does the news clip give examples of price gouging or of competitive markets allocating scarce resources? Explain. Are the price increases in the news clip fair? Is it fair to prohibit "unconscionable prices"? They are by the rules view and by It is because the results view of faimess. O A. fair; otherwise someone will buy all the O A. unfair; fair water and rent all the hotel rooms and O B. unfair; unfair offer them to others at higher prices O C. fair; unfair O B. unfair; an allocation method other than market price will be used O D. fair; fair O C. unfair; the government is overstepping its role in the economy O D. fair; everyone will be able to afford water and hotel rooms

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