-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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