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The table below gives demand and supply information for portable home generators in New Orleans. As you would expect, the demand for portable home generators is higher during a hurricane than during normal times. Price Quantity supplied Normal times Hurricane quantity.demanded quantity demanded $1,500 100 10 40 $1,200 80 20 80 $900 60 30 120 $600 40 40 160 $300 20 50 200 $0 0 60 240 Suppose the New Orleans city council passes a price gouging law: during a hurricane, the price of a generator cannot increase by more than 50% above the normal market equilibrium price. During a hurricane there would be a shortage of generators. Part 2 (2 points) See Hint If there were no price gouging law, consumers would have to pay a) $ during a hurricane, but they would be able to buy b) generators