Question

Today's demand curve for gasoline could shift in response to a change ina.today's price of gasoline. b.the expected future price of gasoline. c.the number of sellers of gasoline. d.All of the above are correct.

Answer 1

Answer:

b.the expected future price of gasoline.

Explanation:

An increase in the price of gasoline almost always decreases the quantity demanded.

If is known that price of gasoline will increase, people will look for ways to reduce their consumption, which affects demand and modifies the demand curve. This is because demand curves are tools used to synthesize the relationship between price and demand.

Answer 2

Answer:

d.All of the above are correct.

Explanation:

The curve of demand moves left or right continuously. Income, patterns and preferences, related products prices as well as the population size and composition are the key factors causing demand change.