How Is the Market for Gasoline Affected If the Excise

question 60

Multiple Choice

How is the market for gasoline affected if the excise tax on gasoline is reduced?

• A) The supply of gasoline decreases.
• B) The supply of gasoline increases.
• C) The equilibrium quantity of gasoline decreases.
• D) The equilibrium price of gasoline increases.

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Definitions:

Need-Satisfaction

A sales approach focused on identifying and fulfilling the specific needs or requirements of a potential customer to encourage a purchase.

Customer Benefit

Refers to the advantages or positive outcomes that customers receive from using a product or service.

Unusual Name

A name that is rare, unique, or uncommonly heard, often standing out in a particular cultural or linguistic context.

Statement Approach

A sales technique where the first communication with a prospect addresses a specific benefit or value proposition of the product or service.