Figure: Demand and Supply of Gasoline
(Figure: Demand and Supply of Gasoline) Look at the figure Demand and Supply of Gasoline.When the supply curve shifted from the initial equilibrium, the new intersection of supply and demand has a price of and quantity of 400.This supply shift could have resulted from
________.
A.$1.50; an increase in consumers' income
B.$1.50; an increase in refining technology
C.$2.00; an increase in the number of buyers
D.$2.00; an increase in consumers' income

Question

Figure: Demand and Supply of Gasoline
   (Figure: Demand and Supply of Gasoline) Look at the figure Demand and Supply of Gasoline.When the supply curve shifted from the initial equilibrium, the new intersection of supply and demand has a price of and quantity of 400.This supply shift could have resulted from
________. 
A.$1.50; an increase in consumers' income
B.$1.50; an increase in refining technology
C.$2.00; an increase in the number of buyers
D.$2.00; an increase in consumers' income

Quizplus · Accepted Answer

The Answer of Figure: Demand and Supply of Gasoline
   (Figure: Demand and Supply of Gasoline) Look at the figure Demand and Supply of Gasoline.When the supply curve shifted from the initial equilibrium, the new intersection of supply and demand has a price of and quantity of 400.This supply shift could have resulted from
________. 
A.$1.50; an increase in consumers' income
B.$1.50; an increase in refining technology
C.$2.00; an increase in the number of buyers
D.$2.00; an increase in consumers' income