How does a price ceilng undermine the rationing function of market-determined prices? How could rationing coupons insure that cnsumers with the highest values get the limited amount of a good supplied when government price ceilings create shortages? Fully explain your answer based upon demand, supply an market equilibrium.
Take a shot, what do you think?
I or others will be glad to critique your thinking.
Hind: could people buy or sell their rationing coupon?