Since car gasoline is an inelastic good, would it be a good idea to put a price ceiling on car gasoline?
Posted May 19th, 2009 by admin 3 Comments »
Akin B asked:
I am aware that it would keep the car gas market from maximizing profits. Since the car gas market has negatively effected other markets in the US, a 1 year price ceiling might not be too bad.
I am aware that it would keep the car gas market from maximizing profits. Since the car gas market has negatively effected other markets in the US, a 1 year price ceiling might not be too bad.
Also this strategy would only work for the short-term.
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