Multiple Choice
When gasoline prices are high, oil refiners have an incentive to pull every last drop of gasoline out of a barrel of crude. This implies that an increase in the demand for gasoline will cause a(n) ______ quantity supplied of gasoline and ______ the supply of the remaining crude oil products.
A) increased; increase
B) increased; reduce
C) reduced; increase
D) reduced; decrease
Correct Answer:
Verified
Correct Answer:
Verified
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