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https://www.google.com/amp/thehill....g-of-harvey-victims-will-not-be-tolerated?amp
First off, there is no such thing as price gouging, it is economically impossible, you cannot sell a product for more then what someone will pay.
The reason prices go up in disaster zones is to maintain equilibrium on the supply and demand curb, ensuring the supply is always available, otherwise panic buyers clean the shelves and leave nothing for anyone else. The higher prices serve to send signals to the market as to what supplies are most needed. These people making a stink about price gouging are actually advocating leaving disaster victims with less then they would otherwise have
First off, there is no such thing as price gouging, it is economically impossible, you cannot sell a product for more then what someone will pay.
The reason prices go up in disaster zones is to maintain equilibrium on the supply and demand curb, ensuring the supply is always available, otherwise panic buyers clean the shelves and leave nothing for anyone else. The higher prices serve to send signals to the market as to what supplies are most needed. These people making a stink about price gouging are actually advocating leaving disaster victims with less then they would otherwise have