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The current market price of gasoline is $ 2 per gallon. Consumers persuade the government to place a price ceiling at $ 1 per gallon.
The current market price of gasoline is $ per gallon. Consumers persuade the government to place a price ceiling at $ per gallon. As a result of this policy, the number of gallons of gasoline sold will:
not change
decrease, because consumers buy less at the lower price
decrease, because producers sell less at the lower price
increase, because producers sell more at the lower price
increase, because consumers buy more at the lower priniof
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