The language of price controls. suppose that, in a competitive market without government regulations, the equilibrium price of gasoline is $3.00 per gallon. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it is binding or nonbinding. statement price control binding or not the government prohibits gas stations from selling gasoline for more than $3.40 per gallon. there are many teenagers who would like to work at gas stations, but they are not hired due to minimum-wage laws. binding the government has instituted a legal minimum price of $2.70 per gallon for gasoline.

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan

Answerprice per unit; plz check first;