In the First Few Months of 2012,the Price of Gasoline

question 8

Multiple Choice

In the first few months of 2012,the price of gasoline increased by approximately 15%.Because of this increase,we would expect the ________ curve in the market for hybrid cars to ________.

• A) demand; shift to the right
• B) demand; make no movement
• C) supply; shift to the left
• D) demand; shift to the left
• E) supply; shift to the right

---

Definitions:

Earrings

Jewelry worn on the earlobe or through another part of the ear, typically as a form of personal adornment.

Income

The monetary payment received by an individual or household from various sources like work, investments, or transfers, over a specified period.

Consumer's Surplus

The difference between the total amount consumers are willing and able to pay for a good or service and the total amount they actually pay.

Demand Function

The demand function is a mathematical representation that describes the quantity of a good that consumers are willing and able to purchase at various prices.