uning the OPEC cnsis of the 1970s, President Richard Nixon enacted price controls on oil and gasoline. Which of the following was a negative unintended consequences of these binding price ceilings? OA. There were massive shortages of oil and gasoline OB. Resources were misallocated. Regions of the country that desperately needed gasoline (say, after a hurricane) were unable to bid for it by offering higher prices OC. Millions of Americans had to endure wasteful search cost by waiting in line for gas since they were unable to legally offer higher prices OD. A black market developed for gasoline, where people had to pay bribes for gasoline that actually made it more expensive than it would've been in the absence of price controls OE. All of these are examples of negative unintended consequences of Nixon's price controls