If the only goal is to ensure that the gas that is available will be purchased by those consumers who value it most highly, the best option is: Select one: O a. For the government to allow the price of gas to go to the equilibrium level as determined by supply and demand O b. For the government to impose a price ceiling at a level it believes is fair and allow no one to charge a higher price O c. For the government to impose a price floor at a level it believes is fair and allow no one to charge a lower price O d. For the government to freeze the price at the level which prevailed prior to the crisis For the government to survey the public to determine what price the average voter favors, and then require producers to charge that price O e.
If the only goal is to ensure that the gas that is available will be purchased by those consumers who value it most highly, the best option is: Select one: O a. For the government to allow the price of gas to go to the equilibrium level as determined by supply and demand O b. For the government to impose a price ceiling at a level it believes is fair and allow no one to charge a higher price O c. For the government to impose a price floor at a level it believes is fair and allow no one to charge a lower price O d. For the government to freeze the price at the level which prevailed prior to the crisis For the government to survey the public to determine what price the average voter favors, and then require producers to charge that price O e.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:If the only goal is to ensure that the gas that is available will be purchased
by those consumers who value it most highly, the best option is:
Select one:
O a.
For the government to allow the price of gas to go to the
equilibrium level as determined by supply and demand
O b. For the government to impose a price ceiling at a level it believes
is fair and allow no one to charge a higher price
O c. For the government to impose a price floor at a level it believes is
fair and allow no one to charge a lower price
O d. For the government to freeze the price at the level which
prevailed prior to the crisis
O e. For the government to survey the public to determine what price
the average voter favors, and then require producers to charge
that price
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