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Question 1 8 pts Market for Gas B b If the original equilibrium is at point (e, c) which curve is the original demand curve A, B, C, or D? Which curve is the original supply curve, A, B, C, or D? If the original equilibrium price is $4.00 which lower case letter represents the price of $4.00? If the original equilibrium quantity is 400 million gallons which lower case letter represents the quantity 400 million gallons? If there is a large increase in demand for gasoline over the next year because of economic growth in China and India which 2 curves will represent the new market supply and demand curves, A, B, C, D? The price of a gallon of gasoline will rise/fall and the quantity of gasoline sold each day will rise/fall. Now assume that there is a public outcry. In response, the government acts to impose a price ceiling at the price of $3.00 per gallon. Will this price control lead to a shortage or surplus