If the Price of Crude Oil Increases and the Number

Multiple Choice

If the price of crude oil increases and the number of people who own cars falls:

A) the equilibrium price of gasoline will increase and equilibrium quantity of gasoline will decrease.
B) the equilibrium price of gasoline will decrease and equilibrium quantity of gasoline will be uncertain.
C) the equilibrium price of gasoline will be uncertain and equilibrium quantity of gasoline will decrease.
D) the equilibrium price of gasoline will be uncertain and equilibrium quantity of gasoline will increase.