Use the Following to Answer Question(s): Demand and Supply of Gasoline

question 62

Multiple Choice

Use the following to answer question(s) : Demand and Supply of Gasoline

-(Exhibit: Demand and Supply of Gasoline) What might cause the supply curve to shift from S₂ back to the initial supply curve S₁?

• A) The Organization of Petroleum Exporting Countries (OPE
• C) restricts the production of crude oil.
• B) The Organization of Petroleum Exporting Countries (OPE
• C) increases the production of crude oil.
• C) Americans want to buy more gas.
• D) Technology in the refinement of gasoline greatly improves.

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Definitions:

Express

Express refers to a mode of communication or transportation that is fast and direct.

Condition

A specific requirement or stipulation that must be met for a contract or agreement to become effective or for certain actions to be taken.

Vehicle

A means of transporting goods or persons, typically on land, such as cars, trucks, or bicycles.

Discharge by Performance

The termination of contractual obligations by fully executing the tasks or duties outlined in the contract.