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Suppose Congress passes a law that states the price of gasoline may not exceed $6 per gallon (but may be lower). If the current price
Suppose Congress passes a law that states the price of gasoline may not exceed $6 per gallon (but may be lower). If the current price of gasoline is less than $6, what impact does this law have on the current price and quantity of gasoline in the US market? 0 A) There is a surplus of gasoline O B) The law currently has no impact, and the market clears at the equilibrium price 0 C) Quantity supplied currently equals quantity demanded, but a surplus is possible at prices above $6 0 D) There is a shortage of gasoline
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