Reference no: EM131043243
The state of Florida enacted anti-gouging legislation that imposes criminal penalties on individuals or firms that charge more for their goods or services after a disaster, like a hurricane or tornado, than they charged just prior to the disaster. Each of the following represents the social loss of this legislation, except:
A) people would have to search longer to find available scarce resources like ice, plywood, and hotel rooms.
B) people would spend more time waiting in lines to acquire some of the scarce goods like ice, plywood, and hotel rooms.
C) more people who have alternatives to consuming the scarce goods like ice, plywood, and hotel rooms at the higher prices would now consume them.
D) fewer people will demand the scarce goods like ice, plywood, and hotel rooms which will reduce the producer surplus
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