An increase in the price of gasoline would shift the demand curve for gasoline to the left.

Question

Quizplus · Accepted Answer

An increase in the price of gasoline does not shift the demand curve; it moves along the demand curve, typically resulting in a decrease in quantity demanded. A shift in the demand curve would be caused by factors other than the price of the good itself, such as changes in consumer income, preferences, or prices of related goods.

An Increase in the Price of Gasoline Would Shift the Demand