The control price for a carton of beer in Nigeria is N7.20. But a carton of beer...
Question
The control price for a carton of beer in Nigeria is N7.20. But a carton of beer is sold in parts of the country for as much N15.00 The cause of this exorbitant price is that?Options
A)
there is a Government ban on the importation of beer
B)
beer distributors want more profit
C)
Nigeria is a large country
D)
middlemen hoard beer
E)
the demand for beer exceeds the supply
Related Lesson: Budget Line | Theory of Consumer Behaviour
The correct answer is E.
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The answer is A. Because Government ban of Importation of beer will cause black market