Using the diagram below explain why it the market is in disequilibrium at a price of $1.75 and the process that will be necessary to restore it.
Definitions:
Consent Order
A legal document, agreed upon by all parties involved and approved by a judge, which resolves a dispute without admitting guilt or fault.
Deceptive Advertising
Marketing practices that mislead or trick consumers into believing something about a product or service that is not true.
FTC Action
Measures taken by the Federal Trade Commission, an independent agency of the United States government, to enforce antitrust laws and protect consumers from deceptive business practices.
Cooling-Off Rule
A regulation that allows consumers a set period to cancel agreements or contracts without penalties.
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