Multiple Choice
A more efficient process for refining oil into gasoline is developed. What will happen to the market price and quantity of gasoline as a result of this?
A) The price decreases and the quantity of gasoline purchased increases.
B) The price and the quantity of gasoline purchased both fall.
C) The price increases and the quantity of gasoline purchased falls.
D) The price and the quantity of gasoline purchased both increase.
Correct Answer:
Verified
Correct Answer:
Verified
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