Consider the market for unleaded gasoline in the U.S.
a. Event A: The Memorial Day holiday arrives in May and many motorists take to the road. As a result of Event A, ___________________ (demand, supply, both demand and supply) for gasoline will ____________ (increase, decrease). By itself, Event A will cause the price of unleaded gasoline in the U.S. to ___________(increase, decrease, stay the same) and quantity of gasoline bought and sold will ____________ (increase, decrease, stay the same).
b. Event B: Refineries of gasoline in the U.S. increase their capacity to refine gasoline from crude oil by 20 percent. As a result of Event B, ___________________ (demand, supply, both demand and supply) for gasoline will ______________ (increase, decrease). By itself, Event B will cause the price of unleaded gasoline in the U.S. to _____________(increase, decrease, stay the same) and quantity of gasoline bought and sold will ______________ (increase, decrease, stay the same).
c. If Events A and B occur together (i.e. simultaneously), the price of unleaded gasoline in the U.S. ___________________(is going to increase, is going to decrease, may rise or fall or stay the same) and quantity of gasoline bought and sold ______________________(is going to increase, is going to decrease, may rise or fall or stay the same).
d. Explain carefully and concisely the conditions under which a shortage of gasoline can occur in the U.S

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The Answer of Consider the market for unleaded gasoline in the U.S.
a. Event A: The Memorial Day holiday arrives in May and many motorists take to the road. As a result of Event A, ___________________ (demand, supply, both demand and supply) for gasoline will ____________ (increase, decrease). By itself, Event A will cause the price of unleaded gasoline in the U.S. to ___________(increase, decrease, stay the same) and quantity of gasoline bought and sold will ____________ (increase, decrease, stay the same).
b. Event B: Refineries of gasoline in the U.S. increase their capacity to refine gasoline from crude oil by 20 percent. As a result of Event B, ___________________ (demand, supply, both demand and supply) for gasoline will ______________ (increase, decrease). By itself, Event B will cause the price of unleaded gasoline in the U.S. to _____________(increase, decrease, stay the same) and quantity of gasoline bought and sold will ______________ (increase, decrease, stay the same).
c. If Events A and B occur together (i.e. simultaneously), the price of unleaded gasoline in the U.S. ___________________(is going to increase, is going to decrease, may rise or fall or stay the same) and quantity of gasoline bought and sold ______________________(is going to increase, is going to decrease, may rise or fall or stay the same).
d. Explain carefully and concisely the conditions under which a shortage of gasoline can occur in the U.S

Consider the Market for Unleaded Gasoline in the U