Question: - Shortly, we will be talking about the Oil Crises of the 1970s. Due to rising cost of oil and related products Former President Nixon

- Shortly, we will be talking about the Oil Crises of the 1970s. Due to rising cost of oil and related products Former President Nixon issued Executive Order 11615, a price control, and effectively imposing a 90-day freeze on prices. For this policy to be binding, do new prices have to be below or above equilibrium? If binding, does this policy lead to a surplus or shortage

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