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Question 9 Market for Gasoline Pel - - E1 Qel Quantity 10. Fewer COVID restrictions lead to more vacation and work travel by car. a.

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Question 9 Market for Gasoline Pel - - E1 Qel Quantity 10. Fewer COVID restrictions lead to more vacation and work travel by car. a. Shift only one curve on the graph and label the new curve (1 pt.) b. Surplus or Shortage immediately after the change in demand or change in supply? (1 pt.) Label the surplus or shortage distance on the graph. (1 pt.) d. Locate all new points (E2, Pe2, Qe2) on the graph. (1 pt.) e. Pe2? (0.5 pt.) f. Qe? (0.5 pt.) Draw new curve and label as required. Write surplus or shortage in the required space and show this distance on graph. Label all new points on graph as required. Write "increases," "decreases," or "indeterminate" next to Pe2? and Qe2? above. If one of these values is indeterminate, indicate this on the graph by addition a "?" to the appropriate label. Hint: Use the Five-Step Process in Chapter 3, Section 3.3 for this and the next two questions

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