Price ceiling are measure employed by government to help the consumers by mandating a maximum price that the seller must charge for a product or service.
- The measure of imposing price in market are rare but are notably used during natural disasters.
- Price ceiling helps to prevent the producers from exploiting the consumers.
In conclusion, the major disadvantage of price ceiling is that when a price ceiling is set below the equilibrium price, the quantity demanded will exceed quantity supplied, thus, this will result to excess demand of goods and shortage in the market.
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The correct option is C. The consumer will have to pay more because the supply of gasoline will decrease, which would put upward pressure on the price.
<h3>
What is Gasoline?</h3>
Gasoline, or petrol, is a transparent, volatile, flammable liquid hydrocarbon mixture used as a fuel, especially for internal combustion engines, and usually blended from several products of natural gas and petroleum.
Thus, the tax on gasoline at the point of purchase would increase the price consumers have to pay for gasoline.
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Answer:
Supply equals demand
Explanation:
Equilibrium is a situation which occurs when there is a balance between quantity demanded and quantity supplied.
Opportunity based decision making
<span>Lewis Hine's photos of child laborers have long titles, which fully documented their youthfulness.
</span><span> The photographer Lewis Hine took series of photos on behalf of the National Child Labor Committee,. The photos illustrate the dangers and hardships working children</span> and shows what kids had to go through in early 1900s in America.
