How might price ceilings on gasoline impede by Dr. Robert Murphy

Question 3 / 49: How might price ceilings on gasoline impede the evacuation of a city in the path of an oncoming hurricane?

Answer:

At any given time, gasoline stations in a typical city don't have

enough fuel in the underground tanks to withstand a mass

exodus of the entire population, with every motorist filling up

before leaving town. If the authorities impose price ceilings to

prevent "gouging" after the news breaks, the stations will run

out of gas before everyone has had a chance to refuel. Consequently

some motorists will be stranded on the interstates,

impeding traffic flow.

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https://www.jobilize.com/interventionism-the-mixed-economy-by-dr-robert-murphy-mises

Interventionism: The Mixed Economy

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Dr.Robert MurphyAssociated Scholar

Mises Institute

USA

Attribution: Dr. Robert P. Murphy, Lessons for the Young Economist. (Mises Institute), http://mises.org/document/6215/Lessons-for-the-Young-Economist (Accessed 04 April, 2014). License: Creative Commons BY

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