An economist might hypothesize that people will buy less gasoline at a price of $3.00 per gallon than at $2.50 per gallon.In order for the hypothesis to become a theory, it would have to be tested.Which of the following observations would seem to support this hypothesis?
A) People in each region buy the same amount of gasoline regardless of the price.
B) Gasoline consumption varies with the quantity of cars purchased in each region.
C) Individuals line up to purchase more gasoline at higher prices with the expectation that the fuel will be of higher quality.
D) Individuals in each region respond to an increase in price by purchasing less gasoline.
Correct Answer:
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