s in 2-4 sentences based on video: What is the typical result of a price floor as described in the video? 5. Do you think it is a good idea to have the government mandate that gas be sold at $1 a gallon? Why or why not? Use the video as evidence. Hey! How you doing Econ students? 0:00 This is Mr. Clifford. 0:02 Welcome to ACDC Econ. 0:03 Right now I'll talk about price controls. 0:05 [ energetic music plays] 0:11 Right now at the end of 2014, Price Ceilings 0:13 gas prices in California are around $4 a gallon 0:16 It's actually a little less 0:18 but let's just keep it simple and say equilibrium and 0:20 price per gallon is $4 and the quantity is 100. 0:23 So I'm tired of paying high gas prices. 0:25 I think we should go to the government and convince them to get the prices lowered 0:29 so the government should make a law and say 0:31 that we should lower the price below equilibrium 0:33 to let's say $1 0:34 This is the idea of something called a "Price Ceiling". 0:36 A Price Ceiling is the cap on a