An increase in the price of gasoline will

Name: An increase in the price of gasoline will
Brand: Quizplus
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Question

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An increase in the price of gasoline means that it will be more expensive to fill up a car with gas. As a result, consumers will be less likely to purchase cars or may choose to use alternative modes of transportation. This will shift the automobile demand curve to the left, as there will be fewer consumers willing to buy cars at any given price level.

An Increase in the Price of Gasoline Will