If the government sets a maximum price for gasoline above, Ask an Expert

Economics

If the government sets a maximum price for gasoline above the equilibrium price:

a. quantity demanded of gasoline will equal to quantity supplied of gasoline.

b. there will be excess demand for gasoline.

c. there will be excess supply for gasoline.

d. demand for gasoline will be less than supply for gasoline.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91707196

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