Use the Following to Answer Questions

question 190

Multiple Choice

Use the following to answer questions .
Exhibit: Demand and Supply of Gasoline
-(Exhibit: Demand and Supply of Gasoline) The initial price and quantity (at intersection of S₁ and D) in equilibrium are:

• A) $2.00 and 450 gallons.
• B) $1.50 and 400 gallons.
• C) $2.00 and 200 gallons.
• D) $2.50 and 300 gallons.