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Gasoline Prices Increase by 50 Percent and Other Things Remain

Question 66

Multiple Choice

Gasoline prices increase by 50 percent and other things remain the same.As a result,there is


A) an increase in the demand for gasoline.
B) a decrease in the demand for gasoline.
C) no change in the quantity of gasoline demanded.
D) a decrease in the quantity of gasoline demanded.
E) More information is needed to determine if the demand for gasoline increases or decreases.

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