Multiple Choice
The In the news article titled "Gas Prices Jump in Matthew's Wake" suggests gasoline prices increased a s a result of damage caused by Hurricane Matthew.When the availability of gasoline decreases as a result of this damage the supply curve shifts to the left,causing
A) A surplus to exist at the original equilibrium price.
B) Consumers pay lower prices as they decide to drive less.
C) The price of gasoline to move up along the market demand curve.
D) The price of gasoline to move up along the market supply curve
Correct Answer:
Verified
Correct Answer:
Verified
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