Use the Following to Answer Question(s): Demand and Supply of Gasoline

Multiple Choice

Use the following to answer question(s) : Demand and Supply of Gasoline

-(Exhibit: Demand and Supply of Gasoline) Given the equilibrium after a change in supply from S₁ to S₂:

A) at the old price of $2.50, there will be pressure for the price to fall.
B) the new price will be $2.00.
C) the new quantity will be 400.
D) all of the above are true.