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24 Jan 2018
19) Crude oil is a very important factor of production used in the production of gasoline. If the price of crude oil rises, we would expect the A) equilibrium quantity of gasoline to rise due to an increase in demand. B) price of gasoline to fall due to an increase in demand. C) price of gasoline to rise due to a decrease in supply. D) equilibrium quantity of gasoline to fall due to an increase in supply. E) price of gasoline to rise due to an increase in demand.
19) Crude oil is a very important factor of production used in the production of gasoline. If the price of crude oil rises, we would expect the A) equilibrium quantity of gasoline to rise due to an increase in demand. B) price of gasoline to fall due to an increase in demand. C) price of gasoline to rise due to a decrease in supply. D) equilibrium quantity of gasoline to fall due to an increase in supply. E) price of gasoline to rise due to an increase in demand.
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