If the Price of Gasoline (A Normal Good)decreases, Other Things

question 9

Multiple Choice

If the price of gasoline (a normal good) decreases, other things constant,

• A)the demand for gasoline increases
• B)the demand for gasoline decreases
• C)the quantity demanded of gasoline increases
• D)the quantity demanded of gasoline decreases
• E)neither the demand for gasoline nor the quantity demanded of gasoline changes because everything is assumed constant along a demand curve

---

Definitions:

Small Business

A privately owned corporation, partnership, or sole proprietorship that has fewer employees and less annual revenue than a corporation or regular-sized business.

Partnerships

A business structure where two or more individuals manage and operate a business in accordance with terms set out in a Partnership Agreement.

Sole Proprietorship

A business owned and operated by one person.

Corporation

A business structure that creates an entity separate from its owners and managers.