Use the following to answer question(s): Demand and Supply of Gasoline

-(Exhibit: Demand and Supply of Gasoline) A factor that may have changed supply from S₁ to S₂ is:

Question

Use the following to answer question(s): Demand and Supply of Gasoline
 
-(Exhibit: Demand and Supply of Gasoline) A factor that may have changed supply from S₁ to S₂ is:

Quizplus · Accepted Answer

Better technology in the production of gasoline would increase the efficiency and productivity of producers, making it easier and cheaper for them to supply gasoline. This would shift the supply curve from S₁ to S₂, causing a decrease in price and an increase in quantity supplied. None of the other options would directly cause a shift from S₁ to S₂.

Use the Following to Answer Question(s): Demand and Supply of Gasoline