1) Read the articles: ” Florida Lawsuits Allege Price Gouging ,” and ” They Clapped: Can Price-Gouging Laws Prohibit Scarcity? ”
2) Read the article from chapter 4 in your textbook: “In the News: Price Increases after Disasters” (pages 84-85) – (Week 1) – The article is the same in both the 7th and the 8th editions, but the art work varies.
Also read the article The Problem with Price Gouging Laws.
3) Watch the Price Gouging video above and the second price gouging video (Video 8) under the YouTube link under the Week 1 menu. (Video 9 is about price ceilings in the apartment rental market, you may wish to watch this for additional background on price ceiling impacts.)
4) Summarize the main points of each article and decide which graph (A, B, C, or D) can be used to explain each event and why – be specific and select a determinant of demand or supply in each case. More than one graph may apply. (SupplyAndDemandGraphs2.doc and Supply and Demand Graphs.pptx ).
5) What is your conclusion? Is price gouging a good thing or not? Or is it just necessary? Explain why.
6) Post your views to the discussion board and refer to at least two different concepts from this week’s Chapters. Your illustration of concepts MUST include an explanation why you think they are are relevant to the week’s topic using specific information from the articles, videos and other research that you have done.
MAKE SURE THAT YOU ADD SOMETHING NEW to the discussion.
· Include a word count on each post. All of your posts should sum to a minimum of 500 words.
· Each post submitted should be between 150 and 250 words. Keep them short, specific, and clear.
· Use paragraphs as appropriate.
· Very lengthy posts do not provide an incentive to be read.
· Remember to document all use of sources by using citations and references. These should be in APA format.
