According to the above figure for a gasoline market, what happens when the price per gallon of gasoline jumps from $1 to $4?
A) A gasoline surplus is replaced by a gas shortage.
B) The market moves from a shortage of 40 million gallons/day to a surplus of 50 million gallons/day.
C) The market shortage is replaced by market equilibrium.
D) A surplus of 40 million gallons/day results.
D
Economics
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Which of the following are statisticians who compile statistics to predict the risk of an event occurring in the population?
A) rocket scientists B) quants C) actuaries D) risk analysts
Economics
Jill's utility from an additional dollar increases more when she has $400 than when she has $200. From this, we can conclude that Jill
A) has an increasing marginal utility of wealth. B) has a decreasing marginal utility of wealth. C) is risk neutral. D) has a negative marginal utility of wealth.
Economics