Figure Demand and Supply of Gasoline 8 Figure Demand and Supply of Gasoline

Figure demand and supply of gasoline 8 figure demand

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Figure: Demand and Supply of Gasoline 8) (Figure: Demand and Supply of Gasoline) What might cause the supply curve to shift from S2 back to the initial supply curve S1? A) The Organization of Petroleum Exporting Countries (OPEC) restricts the production of crude oil. B) The Organization of Petroleum Exporting Countries (OPEC) increases the production of crude oil. C) Americans want to buy more gas. D) Technology in the refinement of gasoline greatly improves. 9) A decrease in supply means: 10) The government decides to impose a price ceiling on a good because it thinks the market-determined price is “too high.” If it imposes the price ceiling above the equilibrium price:
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1) A 2) C 3) D 4) C 5) C 6) A 7) C 8) A 9) A 10) D
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