Which of the Following Would Shift the Supply Curve for Gasoline

question 62

Multiple Choice

Which of the following would shift the supply curve for gasoline to the right?

• A)​an increase in the demand for gasoline.
• B)​an increase in the price of gasoline.
• C)​an increase in the number of producers of gasoline.
• D)​an increase in the price of oil, an input into the production of gasoline.

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Definitions:

Opportunity Cost

The penalty of not picking the second most preferable solution in the decision process.

Agricultural Output

The total quantity of agricultural products, such as crops and livestock, produced within a specified period.

Rural India

Refers to the countryside areas of India, often characterized by agricultural practices, lower population density, and less access to infrastructure and technology than urban areas.

Efficient Markets

Markets in which all available information is fully reflected in asset prices, making it impossible to consistently achieve higher returns than the overall market.