1 If the price of gasoline is set below the equilibrium price by government action there will be a surplus of gasoline there will be a shortage of gasoline all buyers will be able to purchase their desired quantities market equilibrium will occur in spite of government regulation 2 You would be wil...

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1. If the price of gasoline is set below the equilibrium price by government action there will...

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1. If the price of gasoline is set below the equilibrium price by government action

		there will be a surplus of gasoline
		there will be a shortage of gasoline
		all buyers will be able to purchase their desired quantities
		market equilibrium will occur in spite of government regulation

2. You would be willing to pay a maximum of $100 to attend a football game, and you can buy a ticket for $30. Your consumer surplus is

		$30
		$50
		$70
		$100

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Principles Of Economics

ISBN: 9781506699868

2nd Edition

Authors: OpenStax

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Posted Date: Feb 06, 2024 01:50 AM

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