Figure 6-6 -Refer to Figure 6-6.Which of the Following Statements Best Relates

Figure 6-6

-Refer to Figure 6-6.Which of the following statements best relates the figure to the events of the 1970s?

A) Buyers of gasoline paid a price of P₁ before 1973; they paid a price of P₂ after OPEC increased the price of crude oil in 1973, and there was a shortage of gasoline at that price.
B) Buyers of gasoline paid a price of P₁ before 1973; they paid a price of P₃ after OPEC increased the price of crude oil in 1973, and there was a shortage of gasoline at that price.
C) Buyers of gasoline paid a price of P₂ before 1973; they paid a price of P₃ after OPEC increased the price of crude oil in 1973, with no shortage of gasoline at that price.
D) The price ceiling was binding before 1973; the price ceiling was no longer binding after OPEC increased the price of crude oil in 1973.