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Other things equal, which of the following would NOT shift the supply curve for gasoline? a. a fall in the price of crude oil (from
Other things equal, which of the following would NOT shift the supply curve for gasoline? a. a fall in the price of crude oil (from which gasoline is refined). b. an increase in the price of gasoline. c. an improvement in refining techniques that allows more gasoline to be squeezed out of a barrel of crude oil. d. an increase in the wages paid to people working in oil refinerie8. To say that the market is in equilibrium implies that: a. producers are earning a profit. b. the quantity that buyers are willing and able to buy equals the quantity that sellers willing and able to sell. c. the market allocates goods fairly. d. the government is not intervening.Any situation where quantity supplied does not equal quantity demanded indicates: a. a market equilibrium. b. a situation in which the actions of buyers do not match the actions of sellers. c. a place where the laws of supply and demand do not hold. d. a point where quantity demanded is equal to quantity supplied
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