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b) 1. State whether each of the following would be classified as a price floor, price ceiling, tax, or subsidy. Draw a diagram to illustrate

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b) 1. State whether each of the following would be classified as a price floor, price ceiling, tax, or subsidy. Draw a diagram to illustrate each situation. The government requires any airline traveller to pay an extra $10 per flight in order to contribute to the costs of compensation payments for greenhouse gas emissions. The Pharmaceutical Benefits Scheme sets a maximum price per prescription for a pharmaceutical drug product to be paid by a consumer, and itself pays the difference between the manufacturer price and consumer price; and

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