l need someone to write 2 paragraphs for each question. kneed it ti be clear and content. Here is the questions 1. List and describe three key features of a market economy and of a command economy. Which type of economy do you think is most efficient? Why? 2. The price of gasoline tends to be highly variable both in the short run and in the long run. Identify three specific determinants of supply or of demand that might explain the price fluctuations. Explain your answer. 3. Describe two types of price controls. Include in your discussion the relationship of the price control to the equilibrium price, any side effects, and at least one example of each price control. 4. Imagine that someone states, If raising the minimum wage to $10 an hour is good, then raising it to $20 an hour would be twice as good. Is this person correct in terms of basic economic analysis? Why or why not? 5. Explain two ways in which a business manager could apply the concept of demand elasticity in order to maximize profits.