There can be times that a sudden surge of demand could cause a price of a product to go really high such as a panic before a hurricane comes. Or recall the shortage problem we faced during the pandemic. We have a price gauging law to prevent price from going up more than 10% (for most states). Hence, price is no longer flexible. Is it really good for consumers? We also have a minimum wage law which would not allow price of labor to go below the minimum wage. Is it really good for minimum wage workers for our government to raise minimum wage? Is there a better solution than raising minimum wage to help those workers? Should our government control prices in our economy? Is it really benefit the majority of the citizen in the short-run and long-run? Should our government control price of medicine and healthcare? Should our government control price of gasoline to control inflation? Should we let the market sort itself out by itself? Or should our government intervene? (Hint: it is not about absolute yes or no but it is about when and how.) give a reference or source