An increase in the price of gasoline will cause a

Name: An increase in the price of gasoline will cause a
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Question

Quizplus · Accepted Answer

An increase in price will lead to a decrease in quantity demanded, as consumers will likely look for alternatives, such as carpooling or using public transportation, or simply using less gasoline. A change in price does not affect the overall demand for gasoline, as there are still consumers who require gasoline for their vehicles regardless of price.

An Increase in the Price of Gasoline Will Cause a