TABLE 4-3 -Refer to Table 4-3. What Is the Equilibrium Price of the Equilibrium

question 127

Multiple Choice

TABLE 4-3

-Refer to Table 4-3. What is the equilibrium price of gasoline?

• A) $0.90
• B) $1.00
• C) $1.10
• D) $1.20

---

Definitions:

Small-town Store

A retail establishment located in a small community, often offering a range of products tailored to local residents.

Terminate

To bring something to an end or conclusion, often used in the context of ending employment, contracts, or legal relationships.

Agency

A relationship between two parties in which one party (the agent) agrees to represent or act for the other (the principal).

Improbable

Unlikely to occur or be true.