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Suppose that when the price of gasoline is $3 per gallon, the total amount of gasoline supplied in the United States is 8 million barrels
Suppose that when the price of gasoline is $3 per gallon, the total amount of gasoline supplied in the United States is 8 million barrels per day. Also suppose that when the price of gas decreases to $2.25 per gallon, the total amount of gasoline supplied is 6 million barrels per day. Based on these numbers and using the simple formula the percentage change in price is: O 50%. O 400%. O 25%. O -o.25%
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