After a one-day dalliance with a rising price, the national average for a gallon of gas resumed its steady retreat, shedding four cents since last week to $3.20. Today's national average of $3.20 is 20 cents less than a month ago and 15 cents less than a year ago. The main reason is a weaker cost for oil, which is struggling to stay above $70 per barrel. The falling price comes just a week after OPEC+ announced voluntary production cuts of about 2 million barrels daily. But instead of viewing it as coal in the stocking, the gasoline market response has thus far been a resounding "meh." According to new data from the Energy Information Administration (EIA), gas demand increased slightly from 8.21 to 8.47 million gallons last week. But that quantity is lower than at this time last year. More drivers are on the road, but they are driving less. Meanwhile, total domestic gasoline stocks increased significantly by 5.4 million barrels has more refineries came online. All this should make for a few gifts in holiday stockings.

1A. Construct a market for gasoline at the beginning of 2023. Assume both supply and demand have some elasticity. Label initial supply and demand curves and quantity with subscript "1".

1B. Return to the market for gasoline and make changes to the market consistent with information in the article. Label new supply and demand curves and price and quantity with subscript "2".

1C. If demand is shown to change in the market, consistent with information in the article state the economic reason for the change. If demand did not change, state: "No change in demand for gasoline".

1D. If supply is shown to change in the market, consistent with information in the article state the economic reason for the change. If supply did not change, state: "No change in the supply of gasoline".