-The table above shows the situation in the gasoline market in Tulsa,Oklahoma.If the price of a gallon of gasoline is $3.62,then
A) there is a surplus of gasoline in Tulsa.
B) there is a shortage of gasoline in Tulsa.
C) the gasoline market in Tulsa is in equilibrium.
D) Without more information we cannot determine if there is a surplus, a shortage, or an equilibrium in the gasoline market in Tulsa.
E) There is neither a surplus nor a shortage, but the market is NOT in equilibrium.

Question

-The table above shows the situation in the gasoline market in Tulsa,Oklahoma.If the price of a gallon of gasoline is $3.62,then
A) there is a surplus of gasoline in Tulsa. 
B) there is a shortage of gasoline in Tulsa. 
C) the gasoline market in Tulsa is in equilibrium. 
D) Without more information we cannot determine if there is a surplus, a shortage, or an equilibrium in the gasoline market in Tulsa. 
E) There is neither a surplus nor a shortage, but the market is NOT in equilibrium.

Quizplus · Accepted Answer

The Answer of 
-The table above shows the situation in the gasoline market in Tulsa,Oklahoma.If the price of a gallon of gasoline is $3.62,then
A) there is a surplus of gasoline in Tulsa. 
B) there is a shortage of gasoline in Tulsa. 
C) the gasoline market in Tulsa is in equilibrium. 
D) Without more information we cannot determine if there is a surplus, a shortage, or an equilibrium in the gasoline market in Tulsa. 
E) There is neither a surplus nor a shortage, but the market is NOT in equilibrium.

-The Table Above Shows the Situation in the Gasoline Market