Unformatted text preview: mand for Blu-ray format movies?
d. The supply of Blu-ray format movies?
e. The price of Blu-ray format movies?
f. The quantity of Blu-ray format movies?
28. After you have studied Reading Between the Lines
on pp. 72–73, answer the following questions:
a. How high did the retail price of gasoline go in
b. What substitutions did drivers make to
decrease the quantity of gasoline demanded?
c. Why would the switch to summer-grade fuel
and the seasonal increase in travel normally
raise the price of gasoline in the spring?
d. What were the two main factors that influenced the demand for gasoline in 2008 and
how did they change demand?
e. What was the main influence on the supply of
gasoline during 2007 and 2008 and how did
f. How did the combination of the factors you
have noted in d and e influence the price and
quantity of gasoline?
g. Was the change in quantity a change in the
quantity demanded or a change in the quantity supplied?...
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