1. After California was hit by deadly forest fires, the price of construction materials, like
plywood, in the southern California tripled in price. In response to customer complaints of ‘price gouging,’ the government considered imposing price regulations to insure that plywood would be sold at the same price that prevailed prior to the devasting wild fires.
Present a discussion, along with a graph, that identifies whether most economists would agree with this proposed action by government.
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