Why are price gouging laws an example of a price floor, Finance Basics

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Why are price gouging laws an example of a price floor

Problem

1. Does a binding price ceiling cause a shortage or a surplus? Provide an example to support your answer.

2. Are price gouging laws an example of a price floor or a price ceiling?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Finance Basics: Why are price gouging laws an example of a price floor

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