You are the president of the United States.In an attempt to make gasoline prices cheaper,you have imposed a binding price ceiling on gas.What would you expect your critics to say?
A) The binding price ceiling will encourage oil companies to deplete the resource too quickly.
B) The binding price ceiling will discourage individuals from using their personal automobile to commute to work or school.
C) The binding price ceiling will cause firms to minimize their spending on the research and development of alternatives to gasoline.
D) The binding price ceiling will increase the likelihood that customers obtain needed gasoline on the black market.
E) The binding price ceiling will cause firms to produce only gasoline of the highest quality.

Question

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The Answer of You are the president of the United States.In an attempt to make gasoline prices cheaper,you have imposed a binding price ceiling on gas.What would you expect your critics to say?
A) The binding price ceiling will encourage oil companies to deplete the resource too quickly.
B) The binding price ceiling will discourage individuals from using their personal automobile to commute to work or school.
C) The binding price ceiling will cause firms to minimize their spending on the research and development of alternatives to gasoline.
D) The binding price ceiling will increase the likelihood that customers obtain needed gasoline on the black market.
E) The binding price ceiling will cause firms to produce only gasoline of the highest quality.

You Are the President of the United States