TABLE 4-3 -Refer to Table 4-3. Assuming the Market for Gasoline Is

Multiple Choice

TABLE 4-3

-Refer to Table 4-3. Assuming the market for gasoline is initially in equilibrium and that sport utility vehicles have very high fuel consumption, what is likely to happen when there is a significant decrease in the price of sport utility vehicles?

A) The market price for gasoline will increase and the quantity demanded will decrease.
B) Both the market price and quantity of gasoline demanded will increase.
C) The market price of gasoline will decrease and the quantity demanded will increase.
D) The market price and quantity of gasoline will both decrease.