Question

In​ allentown, pennsylvania, in the summer of​ 2014, the average price of a gallon of gasoline was ​$3.68long dasha ​22-cent increase from the year before. many consumers were upset by the increase. one was quoted in a local newspaper as​ saying, "it's crazy. the government should step​ in." ​source: sam​ kennedy, "valley feeling pain at the​ pump," (allentown,​ pa) morning call​, june​ 21, 2014. suppose the government had stepped in and imposed a price ceiling equal to old price of​ $3.46 per gallon.
a. using the line drawing​ tool, draw and label the price ceiling. carefully follow the instructions​ above, and only draw the required object.

Answer 1

Answer:

The correct and labeled image of the price ceiling is attached :

Explanation:

The Price ceiling is the legal maximum price, it is ineffective and not true for the market equilibrium price. It is always less than the market price equilibrium.

The correct image on the basis of the given instruction and to the price 3.14bis attached to the answer please zoom to see the clear image.