2. Using a supply and demand graph for asoline starting at an equilibrium price of $5.00 per gallon and a quantity of 20 gallons, show
2. Using a supply and demand graph for asoline starting at an equilibrium price of $5.00 per gallon and a quantity of 20 gallons, show the effect of a government price ceiling on gasoline of $2.50 a gallon. Is this a binding price ceiling? Why or wy not? Please explain. 3. Evaluate the following statement. The price of gasoline increases. and at the same time the demand for gasoline increases
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