Answered: . Why are shortages or surpluses more…

. Why are shortages or surpluses more likely with preset prices, such as those on tickets, than flexible prices, such as those on gasoline?

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter4: Demand, Supply, And Markets

Section: Chapter Questions

Problem 5.10P

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. Why are shortages or surpluses more likely with preset prices, such as those on tickets, than flexible prices, such as those on gasoline?

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