Use the figure below to answer the following question(s).
Figure 3-14
-Refer to Figure 3-14. The gasoline market was initially in equilibrium at point e. Other things constant, an increase in the popularity and use of Sport Utility Vehicles (SUVs) that consume more gasoline per mile driven than most other types of cars would likely move the equilibrium in this market toward point
A) r.
B) s.
C) t.
D) u.

Question

Use the figure below to answer the following question(s).
Figure 3-14 
-Refer to Figure 3-14. The gasoline market was initially in equilibrium at point e. Other things constant, an increase in the popularity and use of Sport Utility Vehicles (SUVs) that consume more gasoline per mile driven than most other types of cars would likely move the equilibrium in this market toward point
A) r. 
B) s. 
C) t. 
D) u.

Quizplus · Accepted Answer

An increase in the demand for gasoline due to the increased popularity of SUVs will shift the demand curve to the right, moving the equilibrium to point t.

Use the Figure Below to Answer the Following Question(s)