4.Explain whether the following statement is True or False or Uncertain, and why.Water rationing (restricting the amount of water each consumer could purchase) during a drought iseconomically efficient because, with each consumer facing the same price for water, each canmaximize his/her satisfaction.

Answered: 4. Explain whether the following…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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4.
Explain whether the following statement is True or False or Uncertain, and why.
Water rationing (restricting the amount of water each consumer could purchase) during a drought is
economically efficient because, with each consumer facing the same price for water, each can
maximize his/her satisfaction.

Expert Solution

Step 1

Water restrictions limit specific purposes of water for instance water system of yards, vehicle washing, filling pools, flushing latrines, as well with respect to firefighting, or hosing down asphalt regions.

Water rationing incorporate typically impermanent suspension of water supply, or decrease of tension beneath that needed for sufficient supply under ordinary circumstances.

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