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Due to a petroleum pipeline break, the price of gasoline in Georgia rises from $2 per gallon to $5 per gallon? In response, the governor signs an executive order that makes it illegal for gas stations to charge more than $3 per gallon. What is the likely outcome of this policy? There will be a surplus of gasoline. There will be a shortage of gasoline. O People who need gasoline the most will be able to get it. O Gas stations will invest in importing more gasoline in the market because of the lower price. Lower gas prices will allow more people to purchase gas at low prices.

Due to a petroleum pipeline break, the price of gasoline in Georgia rises from $2 per gallon to $5 per gallon? In response, the governor signs an executive order that makes it illegal for gas stations to charge more than $3 per gallon. What is the likely outcome of this policy? There will be a surplus of gasoline. There will be a shortage of gasoline. O People who need gasoline the most will be able to get it. O Gas stations will invest in importing more gasoline in the market because of the lower price. Lower gas prices will allow more people to purchase gas at low prices.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Due to a petroleum pipeline break, the price of gasoline in Georgia rises from $2 per gallon to $5 per gallon? In response, the governor signs an executive order that makes it illegal for gas stations to charge more than $3 per gallon. What is the likely outcome of this policy? There will be a surplus of gasoline. There will be a shortage of gasoline. OPeople who need gasoline the most will be able to get it. O Gas stations will invest in importing more gasoline in the market because of the lower price. Lower gas prices will allow more people to purchase gas at low prices.
Transcribed Image Text:Due to a petroleum pipeline break, the price of gasoline in Georgia rises from $2 per gallon to $5 per gallon? In response, the governor signs an executive order that makes it illegal for gas stations to charge more than $3 per gallon. What is the likely outcome of this policy? There will be a surplus of gasoline. There will be a shortage of gasoline. OPeople who need gasoline the most will be able to get it. O Gas stations will invest in importing more gasoline in the market because of the lower price. Lower gas prices will allow more people to purchase gas at low prices.
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