Question: Directions: 1. Using the following demand and supply schedules, graph the demand and supply curve. 2. Identify the price and quantity of gasoline at which

Directions: 1. Using the following demand and supply schedules, graph the demand and supply curve. 2. Identify the price and quantity of gasoline at which market equilibrium is achieved at this particular gas station. 3. After Graphing, answer the questions that follow. Demand for Demand for Supply of Supply of Gas Gas Gas Gas Price per Gallons per Price per Gallons per gallon wk (x1000) gallon wk (x1000) 25 5 K 1.00 1.00 1.25 1.25 1.50 1.50 1.75 1.75 4.. California has passed a new tax on gasoline. How would that impact supply? (no graphing

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