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Loraine Loraine
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8 years ago
During 2008 the supply of gasoline decreased while at the same time the demand for gasoline increased. If the magnitude of the increase in demand was greater than the magnitude of the decrease in supply, then the equilibrium price of gasoline ________ and the equilibrium quantity ________.
A) increased; increased
B) increased; decreased
C) increased; did not change
D) decreased; did not change
E) did not change; increased
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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SmooothSmoooth
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8 years ago
My pleasure Happy Dummy
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