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Gasoline prices are over $2.90 per gallon as you are taking this exam. For many people who may have been planning long vacations, this price
- Gasoline prices are over $2.90 per gallon as you are taking this exam. For many people who may have been planning long vacations, this price has a discouraging impact. Which role of prices applies in this case?
- The resource directing role and the law of demand.
- The Coase Theorem and Say's Law.
- The rationing role of prices, also known as the discriminating nature of prices.
- The law of supply and the barter-eliminating role of prices.
- A and D only.
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