Use the following to answer questions: Figure: Demand and Supply of Gasoline -(Figure: Demand and Supply of Gasoline) Look at the figure Demand and Supply of Gasoline. Given the equilibrium after a change in supply from S₁ to S₂: A)at the old price of $2.50, there will be pressure for the price to fall. B)the new price will be $2.00. C)the new quantity will be 600. D)the price will remain constant.

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At the old price of $2.50, there will be a surplus of gasoline, which will put pressure on the price to fall.

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