-The Above Figure Shows the Market for Gasoline

question 82

Multiple Choice

-The above figure shows the market for gasoline. When a hurricane destroys a major refinery that refines oil into gasoline, the

• A) demand curve for gasoline does not shift, and the supply curve of gasoline shifts from S₁ to S₂.
• B) demand curve for gasoline shifts from D₁ to D₂ and the supply curve of gasoline shifts from S₂ to S₁.
• C) demand curve for gasoline does not shift, and the supply curve of gasoline shifts from S₂ to S₁.
• D) demand curve for gasoline shifts from D₁ to D₂ and the supply curve of gasoline does not shift.

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Definitions:

B2B Products

B2B products are goods and services marketed and sold from one business to another, as opposed to consumer-facing transactions.

Sales Volume

The quantity of products or services sold within a particular period, indicating the level of business activity.

Promotional Strategy

A marketing approach aimed at communicating the value of a product or service to customers, intending to increase sales.

Television Advertising

The process of promoting products, services, or ideas through commercials aired on television channels.