Explain what would happen to the equilibrium price and quantity of gasoline if the supply of gasoline decreased while the demand for gasoline also decreased
What will be an ideal response?
Equilibrium quantity would decrease. Equilibrium price would depend on which change was larger. If the supply decrease was larger than the demand decrease, equilibrium price would increase. If the demand decrease was larger than the supply decrease, equilibrium price would decrease.
Economics
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More risk-averse people will:
a. hold fewer risky assets because marginal utility is rapidly diminishing. b. hold fewer risky assets because marginal utility is greater. c. hold fewer risky assets because rates of return are more uncertain. d. hold fewer risky assets because marginal utility is negative.
Economics
The richest American is ______.
Fill in the blank(s) with the appropriate word(s).
Economics