Price Increases During Economic Crisis
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Should price increases for products in demand be allowed during extreme times of demand (e.g., bags of ice, water or hotel rooms during a hurricane crisis)? Defend your position using economic principles.
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Solution Summary
This solution discusses the Expert's view that price increases should be allowed in 172 words.
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Yes.
People may think that it is morally incorrect to make money (i.e. increase prices) during extreme times of demand (such as a war perhaps). But one thing to keep in mind is that the law of supply and demand is naturally occured, and ...
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