-The Above Figure Shows the Market for Gasoline

question 464

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 shifts from D₁ to D₂ and the supply curve of gasoline does not shift.
• 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 does not shift, and the supply curve of gasoline shifts from S₁ to S₂.

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Definitions:

Adrenal Glands

Small glands located above the kidneys that produce a variety of hormones including adrenaline and cortisol, which help control heart rate, blood pressure, and other important bodily functions.

Pituitary Glands

A small, pea-sized gland located at the base of the brain, crucial for regulating vital body hormones and functions.

Oxytocin

A hormone and neurotransmitter involved in childbirth and breast-feeding, also associated with behaviors such as bonding, trust, and empathy.

Pitocin

A synthetic form of oxytocin used medically to induce labor and control bleeding after childbirth.