This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If the equilibrium price of gasoline is $3.00 per gallon and the government will not allow oil ... (Read 47 times)

joblessjake

  • Hero Member
  • *****
  • Posts: 555
on: Apr 19, 2019

If the equilibrium price of gasoline is $3.00 per gallon and the government will not allow oil companies to charge more than $2.00 per gallon of gasoline, which of the following will happen?


◦ The market will be in equilibrium at a price of $2.00.
◦ Supply must eventually increase so that the market will come into equilibrium at a price of $2.00.
◦ Demand must eventually decrease so that the market will come into equilibrium at a price of $2.00.
◦ A nonprice rationing system such as ration coupons must be used to ration the available supply of gasoline.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by joblessjake on Apr 19, 2019

juliaf

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly


joblessjake

  • Hero Member
  • *****
  • Posts: 555
Reply #2 on: Apr 19, 2019
Thanks


juliaf

  • Sr. Member
  • ****
  • Posts: 344
Reply #3 on: Apr 19, 2019
Welcome :)


« previous next »
 

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

This graphic illustrates the original systems model of politics advanced by David Easton. Politics This graphic illustrates the original systems model of politics advanced by David Easton. Politics
The world has been horrified recently at a U.S. Congress so polarized and paralyzed that it cannot p The world has been horrified recently at a U.S. Congress so polarized and paralyzed that it cannot p
Some playgrounds near streets with heavy traffic may still have high levels of lead from gasoline ... Some playgrounds near streets with heavy traffic may still have high levels of lead from gasoline ...
What would be the appropriate equilibrium temperature of a system obtained by adding 25.0 g of ... What would be the appropriate equilibrium temperature of a system obtained by adding 25.0 g of ...
The dissociation equilibrium constants for the protonated form of alanine (a diprotic amino ... The dissociation equilibrium constants for the protonated form of alanine (a diprotic amino ...
"The Department of Agriculture came out today with its prediction for food price "The Department of Agriculture came out today with its prediction for food price
Video: Coaductile pathway, Timing of contraction signal & Conduction system and ECG

For a complete list of videos, visit our video library