Maximum resources could be diverted to the war effort

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During World War 2 gasoline and other consumer goods were in short supply on the home front so that maximum resources could be diverted to the war effort. In order to cut back on the consumption of these many products, rationing coupons were issued to households. In the gasoline, in particular, a "black market" quickly arose. Using the tools of supply and demand analysis, explain how these rationing coupons were valued.

Reference no: EM13737915

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