A More Efficient Process for Refining Oil into Gasoline Is

question 120

Multiple Choice

A more efficient process for refining oil into gasoline is developed. What will happen to the market price and quantity of gasoline as a result of this?

• A) The price decreases and the quantity of gasoline purchased increases.
• B) The price and the quantity of gasoline purchased both fall.
• C) The price increases and the quantity of gasoline purchased falls.
• D) The price and the quantity of gasoline purchased both increase.

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