Due to the price of oil, gas companies must charge $2.25 per gallon for gasoline. Which of the following is an effect of the government instituting a price ceiling of $2.00 per gallon on gasoline? a. quantity demanded will be more than thequantity supplied. b. quantity demanded will remain the same. c. quantity supplied will be more than quantity demanded. d. quantity supplied will remain the same.

Question

Pierre Lynch

Social Studies

2 January, 13:20

Due to the price of oil, gas companies must charge $2.25 per gallon for gasoline. Which of the following is an effect of the government instituting a price ceiling of $2.00 per gallon on gasoline? a. quantity demanded will be more than thequantity supplied. b. quantity demanded will remain the same. c. quantity supplied will be more than quantity demanded. d. quantity supplied will remain the same.

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Daniels · Answer 1

Due to the price of oil, gas companies must charge $2.25 per gallon for gasoline. The statement that is an effect of the government instituting a price ceiling of $2.00 per gallon on gasoline is that " c. quantity supplied will be more than quantity demanded."

Nicky · Answer 2

The answer to question above as which is an effect of the government instituting a price ceiling of $2.00 if the gas companies will be charge $2.25 per gallon of gasoline ... the answer is letter A, The quantity demanded will be more than the quantity supplied.