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Price Quantity demanded Quantity supplied (dollars per gallon) (gallons of gasoline) (gallons of gasoline 2.30 337,982 441,074 2.27 396,398 428,008 2.25 412,031 412,031 2.20 417,899

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Price Quantity demanded Quantity supplied (dollars per gallon) (gallons of gasoline) (gallons of gasoline 2.30 337,982 441,074 2.27 396,398 428,008 2.25 412,031 412,031 2.20 417,899 391,665 The table above shows the situation in the gasoline market in Tulsa, Oklahoma. If the price of a gallon of gasoline is $2.30 then Select one: O a. there is a shortage of gasoline in Tulsa. O b. Without more information we cannot determine if there is a surplus, a shortage, or an equilibrium in the gasoline market in Tulsa. O c. There is neither a surplus nor a shortage, but the market is NOT in equilibrium. d. there is a surplus of gasoline in Tulsa. e. the gasoline market in Tulsa is in equilibrium

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