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Author Question: Some oil refineries were damaged by Hurricane Ike of 2008, leading to A) a decrease in supply of ... (Read 8 times)

appyboo

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on: Jun 29, 2018
Some oil refineries were damaged by Hurricane Ike of 2008, leading to
 
  A) a decrease in supply of gasoline.
  B) a decrease in quantity supplied of gasoline.
  C) a decrease in demand for gasoline.
  D) a decrease in quantity demanded for gasoline.

Question 2

Holding supply constant, a reduction in demand leads to
 
  A) lower prices and higher quantity supplied.
  B) lower prices and lower quantity supplied.
  C) higher prices and higher quantity supplied.
  D) higher prices and lower quantity supplied.


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yahahah24021

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

B


appyboo

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

covalentbond

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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