Multiple Choice
Suppose the equilibrium price of a gallon of gasoline drops from $3.00 to $2.85 and the equilibrium quantity increases from 365 millions of gallons per week to 372 millions of gallons per week. These changes can be the result of
A) an increase in supply.
B) an increase in demand.
C) a decrease in supply.
D) a decrease in demand.
Correct Answer:
Verified
Correct Answer:
Verified
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