Table 4-B -Refer to Table 4-B

question 72

Multiple Choice

Table 4-B
$\begin{array}{ccc}\text { Price per gallon } &\text { Quantity Demanded }&\text { Quantity Supplied of } \\&\text { (thousands of gallons) }&\text { gasoline (thousands of }\\&&\text { gallons) }\\\$ 4.50 & 600 & 2,000 \\\$ 4.25 & 700 & 1,900 \\\$ 4.00 & 800 & 1,800 \\\$ 3.75 & 950 & 1,700 \\\$ 3.50 & 1,200 & 1,600 \\\$ 3.25 & 1,500 & 1,500 \\\$ 3.00 & 1,800 & 1,400 \\\$ 2.75 & 2,100 & 1,300 \\\$ 2.50 & 2,400 & 1,200\end{array}$

-Refer to Table 4-B.The government imposes a $3.25 price ceiling at the same time there is a substantial decrease in the price of sport utility vehicles.(Assume that sport utility vehicles get very low mileage per gallon.) As a result, the:

• A)price of gasoline equals $3.25 per gallon and the quantity demanded equals the quantity supplied.
• B)price of gasoline rises above $3.25 per gallon and a surplus of gasoline is created.
• C)price of gasoline will fall below $3.25 per gallon and a shortage of gasoline is created.
• D)legal price of gasoline will equal $3.25 per gallon and a shortage of gasoline is created.
• E)market price and quantity traded of gasoline will both increase.

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Definitions:

Communication Barriers

Obstacles or challenges that prevent effective communication between individuals or groups, which can be physical, psychological, or linguistic in nature.

Assertively

Communicating one's views, needs, or demands in a confident and direct manner, without being aggressive or passive.

Multitasking

The ability to handle more than one task simultaneously, often by rapidly switching focus between tasks.

Social Media

Online platforms that enable users to create and share content or participate in social networking.