The government imposes a minimum price on gasoline that is above the equilibrium price. You accurately predict that
the law will create an excess supply of gasoline.
gas stations will start refurnishing their stations.
less gasoline will be available to buy.
the law will have no economic impact.
A. the law will create an excess supply of gasoline.
The moment you’ve entered the education system is the moment you start to realize that, although studying is extremely important,…
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