Price controls distribute resources in many unintended ways


Question: Price controls distribute resources in many unintended ways. In the following cases, who will probably spend more time waiting in line to get scarce, price-controlled goods? Choose one from each pair:

a. Working people or retired people?

b. Lawyers who charge $800 per hour or fast food employees who earn $8 per hour?

c. People with desk jobs or people who can disappear for a couple of hours during the day?

Request for Solution File

Ask an Expert for Answer!!
Microeconomics: Price controls distribute resources in many unintended ways
Reference No:- TGS02619796

Expected delivery within 24 Hours