What would be the result of this well-intentioned law


Problem

A tornado knocks out power to a town. Portable generators offer the only option for residents to get electricity. First: What do you expect to happen in the market for generators? Second: To protect the public interest, the city government passes a law specifying that no one may sell generators above the price charged before the tornado struck. What would be the result of this well-intentioned law?

Request for Solution File

Ask an Expert for Answer!!
Macroeconomics: What would be the result of this well-intentioned law
Reference No:- TGS03320333

Expected delivery within 24 Hours