Currently, there are a number of challenging situations that are occurring around the world. However, we will focus on Vancouver, British Columbia. The main issue impacting people in Vancouver is that most products and services have gone up in price and the consumer must pay more. For example, the price of fuel went from $1.89 per litre in late January to $2.33 per litre in late May 2022. This means in January, if you filled up your vehicle with 50 litres, it would have cost $94.50 and now, it will cost $116.50. a) The price of fuel has increased, explain what might be driving the price up. Describe the relevant theory and then apply that theory to this situation. (2 marks) b) Explain two theories: i) the theory that applies when there is an overall increase in prices in an economic system and ii) the theory that measures the price of typical products that supports the theory you discussed in i) and how this theory works. (2 marks) c) Do you think the government should be involved to help control the price of fuel? If no, explain why not. If yes, explain the interaction between business and government? (2 marks)