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11Alexandr11 [23.1K]
3 years ago
11

Given the law of​ demand, you would expect the rise in the price of gasoline to​ ______ the quantity of gasoline demanded and​ _

_____ the demand for gasoline.A. ​decrease; decreaseB. not​ change; decreaseC. decrease; not changeD. increase; decrease
Business
1 answer:
just olya [345]3 years ago
6 0

Answer:

C. decrease; not change

Explanation:

According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.

The rise in price of gasoline only affects the quantity demanded. Other factors affect the demand for gasoline.

I hope my answer helps you

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When the price of paintings is set at $500, the local art gallery supplies 20 paintings per week. When the price of paintings in
Rudiy27

Answer:

the  price elasticity of supply is 0.555

Explanation:

The computation of the price elasticity of supply is given below:

= Percentage change in quantity supplied ÷ percentage change in price

= (25 - 20) ÷ (25 + 20) ÷ 2 ÷ (750 - 500) ÷ (750 + 500) ÷ 2

= 5 ÷45 ÷ 250 ÷ 125

= 0.555

Hence, the  price elasticity of supply is 0.555

The same is relevant

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