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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

  1. 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?

  1. The resource directing role and the law of demand.
  2. The Coase Theorem and Say's Law.
  3. The rationing role of prices, also known as the discriminating nature of prices.
  4. The law of supply and the barter-eliminating role of prices.
  5. A and D only.

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