11. Read Eye on Price Regulation and explain why a mismatch between intention and outcome is inevitable

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11. Read Eye on Price Regulation and explain why a mismatch between intention and outcome is inevitable if a price regulation seeks to block the law of market forces.

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Instructor Assignable Problems and Applications Use the following information to work Problems 2 to 4 .

Concerned about the political fallout from rising gas prices, the U.S.

government imposes a price ceiling of $3.00 a gallon on gasoline.

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