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When a city is hit by a natural disaster, many government officials choose to implement price-gouging laws, prohibiting firms from raising the prices of goods
When a city is hit by a natural disaster, many government officials choose to implement price-gouging laws, prohibiting firms from raising the prices of goods and services. Use the supply and demand model to describe what happens when a natural disaster occurs, and what the final outcome is with and without the implementation of price-gouging laws
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