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Gas prices fall below $2 a gallon in 12 states CNN BUSINESS By Jordan Valinsky, CNN Business Updated 10:51 AM ET, Thu March 19, 2020

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Gas prices fall below $2 a gallon in 12 states CNN BUSINESS By Jordan Valinsky, CNN Business Updated 10:51 AM ET, Thu March 19, 2020 New York (CNN Business) - The average price of a gallon of gas has fallen below $2 in nearly a quarter of the country's states, according to AAA. "The national average currently stands at $2.19 for a gallon of regular gas - the lowest it's been since early December 2016. That's down 13 cents from a week ago and 36 cents lower than a year ago. Based on the demand and supply model, what can we infer happened just prior to motivate this response in the market for gasoline? A. A negative demand shock in the gasoline market B. A price floor in the gasoline market C. A negative supply shock in the gasoline market D. A shortage of gasolineOpportunity cost is A. the single highest-valued alternative given up when a decision is made B. a normative analysis. C. demonstrated by the production possibilities curve model. D. all of the above.2 Points Complex, capacious issues A. cannot be resolved, only mitigated. B. affect people in every community. C. result from generations of decision-making. D. are characterized by all of the above

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