Because of a Sharp Increase in the Price of Gasoline,the

question 2

Multiple Choice

Because of a sharp increase in the price of gasoline,the demand for Sports Utility vehicles (SUVs) has decreased.So,the high price of gasoline leads to a

• A) leftward shift of the demand curve for SUVs and the supply curve of SUVs.
• B) leftward shift of the demand curve for SUVs and no shift in the supply curve of SUVs.
• C) leftward shift of the demand curve for SUVs and a rightward shift of the supply curve of SUVs.
• D) leftward shift of the supply curve of SUVs and no shift in the demand curve for SUVs.
• E) rightward shift of the supply curve of SUVs and no shift in the demand curve for SUVs.

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Definitions:

Possible Decisions

Refers to the range or variety of options or choices available in a given situation.

Determine Problem

involves identifying and understanding the issue or challenge that needs to be addressed or solved.

Critical Thinking

The goal of critically examining and assessing a matter to develop an opinion.

Basic Steps

The fundamental stages or actions necessary to perform a task or process.