Use the following to answer questions 18 19 Figure Demand

Last updated: 10/18/2023

Use the following to answer questions 18 19 Figure Demand and Supply of Gasoline Price per gallon 5 4 3 2 50 2 1 50 1 0 S2 D 100 200 300 400 500 600 Quantity of gasoline per month Figure Demand and Supply of Gasoline Look at the figure Demand and Supply of Gasoline A factor that may have changed supply from S to S is A better technology in the production of gasoline B increased demand C lower labor productivity in gasoline production D increased prices of substitutes for gasoline Figure Demand and Supply of Gasoline Look at the figure Demand and Supply of Gasoline Given the initial equilibrium of S and D any price lower than W create pressure for the price to A 2 00 fall B 2 50 rise C 3 00 rise