What do you think should be done in a situation when the price for an essential product (name the product and explain why you believe to be "essential" in your post!!) is rising rapidly? Put the name of the essential product in your subject line. Do not choose gasoline! Part 2: Now answer each of the following questions either "Yes" or "No," giving reasons in each case! 1. Is it right for businesses to earn fat profits on goods that people rely on? (Yes/No) Why? 2. Is it right for the government to intervene in such circumstances? (Yes/No) Why? 3. Should the government always intervene? Never ever intervene? (Yes/No) Why do you think so?

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Part 1: What do you think should be done in a situation when the price for an essential product (name the product and explain why you believe to be "essential" in your post!!) is rising rapidly? Put the name of the essential product in your subject line. Do not choose gasoline!

Part 2: Now answer each of the following questions either "Yes" or "No," giving reasons in each case!

1. Is it right for businesses to earn fat profits on goods that people rely on? (Yes/No) Why?

2. Is it right for the government to intervene in such circumstances? (Yes/No) Why?

3. Should the government always intervene? Never ever intervene? (Yes/No) Why do you think so? 

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