Many people are concerned about the rising price of gasoline. Suppose that government officials are thinking of
Question:
a. Drivers will purchase more gasoline.
b. Quantity demanded for gasoline will increase.c. Long lines will develop at gas stations.
d. Oil companies will work to increase their pumping capacity.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (7 reviews)
B and C Quantity demanded for gasoline will increase at a price below the eq...View the full answer
Answered By
Charles mwangi
I am a postgraduate in chemistry (Industrial chemistry with management),with writing experience for more than 3 years.I have specialized in content development,questions,term papers and assignments.Majoring in chemistry,information science,management,human resource management,accounting,business law,marketing,psychology,excl expert ,education and engineering.I have tutored in other different platforms where my DNA includes three key aspects i.e,quality papers,timely and free from any academic malpractices.I frequently engage clients in each and every step to ensure quality service delivery.This is to ensure sustainability of the tutoring aspects as well as the credibility of the platform.
4.30+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
The CFO at Brosnan, Inc., a book publisher, is concerned about the rising prices of paper and ink. She is considering the use of derivatives to lock in today's prices. Required: 1. One strategy used...
-
East land College is concerned about the rising price of textbooks that students must purchase. To better identify the increase in the price of textbooks, the dean asks you, the Economics Departments...
-
Many organizations are concerned about the rising cost of employee benefits and question their value to the organization and to the employees. What can management do to increase the value to the...
-
The IQ and VIQ are tools insurance producers use to learn more about internal assumptions regarding factors that ultimately control policy performance. They have information in all of the following...
-
of a branch of a local bank has the business objective of reducing the waiting times of customers for teller service during the 12: 00 noon to 1: 00 p. m. lunch hour. A subgroup of four customers is...
-
A manager of a large chain of appliance stores is planning to conduct a pricing experiment to determine the price elasticity of the chains line of microwave ovens. He plans to measure sales for the...
-
Brown Company, a successful efforts company, has a 1/8 royalty interest in an unproved property. Assuming Brown Companys net capitalized cost in the property is $100,000, give the entry to record the...
-
Kehoe, Inc. owes $40,000 to Ritter Company. How much would Kehoe have to pay each year if the debt is retired through four equal payments (made at the end of the year), given an interest rate on the...
-
Complete the table to determine the effect of the num for 14 yr under the following compounding options. Ro nearest cent. Compounding Option n Value
-
If X 1 , X 2 , and X 3 are uncorrelated variables each having the same standard deviation, show that the coefficient of correlation between X 1 + X 2 and X 2 + X 3 is equal to 1/2. Why is the...
-
A subsidy will increase consumer and producer surplus in a market and will increase the quantity of trades. Why, then, might a subsidy (such as a subsidy for producing corn in the United States) be...
-
Suppose that for health reasons, the government of the nation of Ironia wants to increase the amount of broccoli citizens consume. Which of the following policies could be used to achieve the goal?...
-
Now choose one of your firms and look up the other firms in the same industry. Perform a Valuation by Comparables analysis by looking at the price/earnings, price/book value, price/sales, and...
-
Internal auditors should follow up on action taken to correct reported deficiency findings, a. Because internal auditors are line personnel. b. Because internal auditors are staff personnel. c....
-
Oral reports of significant audit findings: a. Require a lower level offactual support than is required for written reports. b. Should be used only when timeliness is a factor. c. Do not need the...
-
For the following reported statements of deficient conditions, describe (1) the evidence of corrective action you would consider satisfactory and (2) the steps you would take to see that corrective...
-
The following statement of a deficiency appeared in a final audit report: Company aircraft were not being maintained adequately. Our tests of maintenance records showed that none of the five aircraft...
-
To understand and use accounting information in making economic decisions, you must understand: a. The nature of economic activities that accounting information describes. b. The assumptions and...
-
Every U.S. president except Ford won a national election. (Ux: x is a U.S. president; Wx: x won a national election; f : Ford) Translate the following statements. Statements involving all except
-
Use the following data to answer the next two (2) questions: Product 1 Product 2 Product 3 Direct Material Cost $25,000 $30,000 $35,000 Direct Labor Cost $30,000 $40,000 $50,000 Direct Labor Hours...
-
(a) In accordance with IAS 37 Provisions, Contingent Liabilities and Contingent Assets, define a provision and explain briefly when a provision should be recognized in financial statements. (b) JEANS...
-
The notion of diminishing returns applies to all inputs to the production process. For example, one of the inputs in the production of corn is nitrogen fertilizer. Suppose a farmer has a fixed amount...
-
1. Consider Figure Between points c and d, the opportunity cost of ___ tons of wheat is _______ tons of steel. 2. Arrow up or down: An increase in the wage for high-school graduates ______ the...
-
1. Consider Figure Between points c and d, the opportunity cost of ___ tons of wheat is _______ tons of steel. 2. Arrow up or down: An increase in the wage for high-school graduates ______ the...
-
What items should be reviewed to reduce ongoing practice cost? I. Supplies II. Phone/data plans III. Personal travel expenses IV. Building costs V. Malpractice insurance VI. Purchased services VII....
-
Which represents the correct order of deductions in the individual income tax formula? A. Gross income , Adjusted Gross income, Taxable income , credit, tax overpaid/ underpaid B. Gross income ,...
-
Jane provides a money purchase pension plan for her employees. She wants to fund the plan for each employee with either a term or whole life insurance policy. Which person does not pass the...
Study smarter with the SolutionInn App