25 .75 15 00 20 1.00 20 25 15 1.25 25 50 10 1.50 30 75 5 1.75 35 California has passed a new tax on gasoline. How would that impact supply? (no graphing necessary) At the price of $1.50 per gallon, would there be a surplus or a shortage of gasoline at this particular gas station? How many gallons of gasoline would the shortage or surplus of gasoline be at this price? Provide a written description that supports your answer. 6. At a price of .50 cent per gallon, would there be a surplus or a shortage of gasoline at this particular gas station? How many gallons of gasoline would the shortage or surplus of gasoline be at this price? Provide a written description that supports your answer. 7. Suppose new technological developments in how crude oil is refined reduce the cost of producing gasoline. What would this mean to both consumers and producers in relationship to the price of gasoline and the amount of gasoline supplied? Please explain your answer. 8. The vast majority of the US gasoline supply comes from countries in the Middle East, primarily Saudi Arabia and Kuwait. What would be the potential impact on US consumers and suppliers of gasoline if war broke out amongst Middle Eastern nations? Explain your