Hi I got his question wrong again. The first time I chose “water can be moved from where it is plentiful to where it is needed most”- wrong. Then I sent the question in to Bartleby, and the answer given included a lot of government involvement. So I chose government intervention occurs to regulate water usage. -that was also wrong. I still don’t have any idea what the correct answer is. It has to be either: “the price is low enough for everyone to have all the water they want” or “the market is allowed to adjust freely”. I see both being correct. Our book did discuss price gouging and price ceilings/floors. And how governments intervention can disrupt markets. **Quiz Question: Efficiently Addressing Water Shortages****Question:**Water shortages can be most efficiently eliminated even in times of drought if ______________.**Options:**1. ☐ water can be moved from where it is plentiful to where it is needed most2. ☐ the price is low enough for everyone to have all the water they want3. ☑ government intervention occurs to regulate water usage4. ☐ the market is allowed to adjust freelyThis question asks for the most efficient method to address water shortages, particularly during times of drought. Each option presents a different approach: logistics, pricing, regulation, and market adjustment. The correct answer emphasizes the role of government regulation in managing and conserving water resources.

Even in droughts, water shortages can be eliminated if the market is allowed to adjust freely in…

Answered: Water shortages can be most efficiently…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Hi I got his question wrong again. The first time I chose “water can be moved from where it is plentiful to where it is needed most”- wrong. Then I sent the question in to Bartleby, and the answer given included a lot of government involvement. So I chose government intervention occurs to regulate water usage. -that was also wrong. I still don’t have any idea what the correct answer is. It has to be either: “the price is low enough for everyone to have all the water they want” or “the market is allowed to adjust freely”. I see both being correct. Our book did discuss price gouging and price ceilings/floors. And how governments intervention can disrupt markets.

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