The price and demand are inversely proportional to each other, When the price is less, the demand is higher. When the price is high, the demand is low.
So , as given, the gasoline prices has been decreased from $2.00 per gallon to $1.40 per gallon, so now the demand will increase. The quantity of gasoline that will be in demand will increase.
Answer:
None
Step-by-step explanation:
Parallel lines never intercept, giving no solution points
Answer:
$40 ; $43.20
Step-by-step explanation:
a) 50 * (1 - .20) = 50 * .8 = 40
b) 50 * (1 - .20) * (1 + .08) = 43.20
c) The sales tax increases the price from a by 8%