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(2) Gasoline prices affect almost everyone. In the 1970's, the federal government tried to keep gas prices low by imposing price ceilings below the equilibrium

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(2) Gasoline prices affect almost everyone. In the 1970's, the federal government tried to keep gas prices low by imposing price ceilings below the equilibrium price. A. Outline the effect on individuals when a price ceiling on gasoline below the equilibrium price is set by the government. . Make a normative statement about price ceilings on gasoline. {Review Normative and Positive statements from Chapter 1}. . Based on your normative statement, make a positive statement that would support it. How might you go about proving whether this positive statement is true or false

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