Suppose a massive snowstorm hits Michigan and Wisconsin, knocking out power. This leads to a huge shortage
Question:
Suppose a massive snowstorm hits Michigan and Wisconsin, knocking out power. This leads to a huge shortage of generators Michigan has price-gouging laws in place, while Wisconsin does not. Which state will recover from its generator shortage more quickly?
1-Michigan will recover more quickly because prices can adjust to make businesses willing to invest in ice production.
2-Wisconsin will recover more quickly because prices can adjust to make businesses willing to invest in ice production.
3-Wisconsin will recover more quickly because the antigouging laws create incentives to invest in ice production.
4-Michigan will recover more quickly because the antigouging laws create incentives to invest in ice production.
Managing Business Ethics Making Ethical Decisions
ISBN: 9781506388595
1st Edition
Authors: Alfred A. Marcus, Timothy J. Hargrave