Read “Florida Lawsuits Allege Price Gouging,” and “They Clapped: Can Price-Gouging Laws Prohibit Scarcity? Summarize the main points and decide which graph (A, B, C, or D) can be used to explain each event and why. Read also in your textbook the article from chapter 4: “In the News: Price Increases after Natural Disasters” (page 84). The latter is assigned to help you form an opinion on the issue.
What is your conclusion? Is price gouging a good thing or not? Explain why.