14. Studies have xed the short-run price elasticity of demand for gasoline at the pump at -0.20. Suppose that international hostilities lead to a sudden cutoff of crude oil supplies. As a result, U.S. supplies of rened gasoline drop 10 percent. a. If gasoline was selling for $1.40 per gallon before the cutoff, how much of a price increase would you expect to see in the coming months? b. Suppose that the government imposes a price cieling on gas at $1.40 per gallon. How would the relationship between consumers and gas station owners change