1. Federal law requires that ethanol be added to gasoline sold to consumers. The graph below shows the supply and demand for ethanol without any
1. Federal law requires that ethanol be added to gasoline sold to consumers. The graph below shows the supply and demand for ethanol without any such mandate. Draw the shift in either the supply curve or the demand curve that would be caused by the legally mandated use of ethanol in the gasoline sold to oonsumers in the US. [Please put a couple of small arrows between the two lines in order to show which direction the supply or demand cu we is shifting] Price 3. With the mandated use of ethanol shown in question #1 above, the price of ethanol produced and sold in the market as a result of the mandate . ["I'our answer should be "increased" or "decreased,\" but not both.]
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