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Question 112

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Use the following to answer question: Use the following to answer question: -(Figure: Demand and Supply of Gasoline) Use Figure: Demand and Supply of Gasoline.Given the equilibrium after a change in supply from S<sub>1</sub> to S<sub>2</sub>: A) at the old price of $2.50,there will be pressure for the price to fall. B) the new price will be $2.00. C) the new quantity will be 600. D) the price will remain constant.
-(Figure: Demand and Supply of Gasoline) Use Figure: Demand and Supply of Gasoline.Given the equilibrium after a change in supply from S1 to S2:


A) at the old price of $2.50,there will be pressure for the price to fall.
B) the new price will be $2.00.
C) the new quantity will be 600.
D) the price will remain constant.

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