There Is an Increase in Incomes Due to a Tech

question 6

Multiple Choice

There is an increase in incomes due to a tech boom.Which of the following correctly captures the effect of this change on the market for gasoline?

• A)Both equilibrium quantity and price will increase.
• B)Both equilibrium quantity and price will decrease.
• C)Equilibrium quantity will increase,but equilibrium price will decrease.
• D)Equilibrium quantity will decrease,but equilibrium price will increase.

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Definitions:

Corporate Culture

The shared values, beliefs, attitudes, and practices that characterize an organization and guide its members’ behavior.

Buyers' Reservations

The highest price a consumer is willing to pay for a good or service, or the conditions under which a consumer will choose not to complete a purchase.

Service Quality

The assessment of how well a delivered service conforms to the expectations of the customer.

Lawn Care

The maintenance and upkeep of lawn areas, including tasks such as mowing, fertilizing, and weed control.