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Discussion peer reply | Economics homework help

Peer reply min 150 words

Hello Professor,

The CNN article talked about how hotels price gouging because of a natural disaster. It is not right, because there was a natural disaster people need shelter and they are being taken advantage of. I do not think that price gouging is a not good idea especially in this situation, but in certain situations price gouging can be a benefit. “Hurricane Charley is the worst natural disaster to befall our state in a dozen years, and it is unthinkable that anyone would try to take advantage of neighbors at a time like this,” Crist said (Phillips, 2004). I do think Graph A represents the price gouging in the hotels because of Hurricane Charlie. Graph A talks about supply and demand, and how demand can determine prices of supplies. The NUMBER OF CONSUMERS DEMANDING hotel rooms made the price increase for the rooms. I also think that the hotels could have helped out their communities rather than, but they chose to hike the prices up for the rooms because people did not have anywhere else to go.

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