Final answer:
The descriptions concerning a distribution with a peak at $12 per hour or an outline cannot be verified without the actual data or graph. For price floors and ceilings, they do not shift demand or supply but set legal limits on prices.
Step-by-step explanation:
Neither of the provided descriptions accurately depict the distribution, as no information about the nature or shape of the distribution is provided in the question. The terms peak and outline refer to the graphical representation of a distribution, which is not described here. To fully answer whether a distribution has a peak at $12 per hour or has an outline, one would need to see the actual distribution, typically presented as a histogram or a box plot. For example, a peak would imply that $12 per hour is the mode of the distribution, and an outline would refer to the overall shape and spread of the data.
In terms of setting price controls such as price floors and price ceilings, it is important to understand that these do not shift the demand or supply curves themselves. Instead, they set legal limits on prices that can lead to excess supply or demand. A price floor set above the equilibrium price can lead to a surplus because it keeps price from falling to the equilibrium level where supply would equal demand. Conversely, a price ceiling set below the equilibrium price can lead to a shortage as the price is kept artificially low, encouraging more demand than the market can supply at that price point.