During the oil crisis in the 1970s long lines at gas, Ask an Expert

Economics

During the oil crisis in the 1970s, long lines at gas stations disappeared soon after price controls were removed and gas prices were permitted to rise. Should this even be interpreted as evidence that the oil companies have monopoly power? Why or why not?

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9475703

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