Suppose that, in a competitive market without government regulations, the equilibrium price of gasoline is $3.00 per gallon. select whether each of the statements is an example of a price ceiling or a price floor and whether it is binding or nonbinding.1. there are many teenagers who would like to work at gas stations, but the minimum-wage law sets the hourly wage at $24.00. 2. the government prohibits gas stations from selling gasoline for more than $2.50 per gallon. 3. the government has instituted a legal minimum price of $3.40 per gallon for gasoline.