Gasoline rationing, Microeconomics

Gasoline Rationing

- In the year 1974 and again in the year 1979, the government imposed price controls on gasoline.

- This resulted in scarcity and gasoline was rationed.

- Non-price rationing is the alternative to market rationing.

- Under one form everyone has an equal chance to purchase rationed good.

- Gasoline can be rationed by long lines at the gas pumps.

* Rationing hurts some by limiting the amount of gasoline they can buy.

* This can be seen in the model given below.

* It applies to a woman having an annual income of $20,000.

761_gasolone rationing.png

Posted Date: 10/10/2012 6:41:50 AM | Location : United States







Related Discussions:- Gasoline rationing, Assignment Help, Ask Question on Gasoline rationing, Get Answer, Expert's Help, Gasoline rationing Discussions

Write discussion on Gasoline rationing
Your posts are moderated
Related Questions
1. Cost minimizing firms must be profit maximizing as well. False, why??

conditions for an abnormal supply curve

what is dynamic and static multipler

Member's Quota in IMF  Quota represents the subscription by a member country to the capital fund of the IMF. Quotas are fixed for each country, taking into account such factor

Suppose Jean Splicer, an investor, buys $300,000 of shares of stock in a diversified bundle of Bio-tech firms and exactly one year later sells those shares for $315,000. Assume the

Plot the demand schedule and draw the demand curve for the data given for Marijuana in the case above.

Analyze the sustainable approach to waste reduction developed by the company you selected. Include the following: Its products Previous methods of production The way it implemented

write name and symbol of element from s-block that has zero oxidation state?

Question You are the COO at PineApple, a company that produces notebook computers for business people. The company has just developed a new model - Pbook. For production of P

1. Assessment Criteria The coursework will be marked on the overall outcome including: structure, quality of reasoning, quality of written English, data analysis, referencing, sty