An increase in the market demand for gasoline in the present, all else equal, could be caused by

A) a rise in peoples' income.

B) a reduction in the price of the gasoline.

C) an expected price decrease in the near future.

D) a reduction in the cost of drilling and refining petroleum.

Question

Social Studies

Rolando Potter

18 October, 03:38

An increase in the market demand for gasoline in the present, all else equal, could be caused by

A) a rise in peoples' income.

B) a reduction in the price of the gasoline.

C) an expected price decrease in the near future.

D) a reduction in the cost of drilling and refining petroleum.

+4

Answers (1)

Know the Answer?

Isabell Fritz · Answer 1

Answer is option B.

Explanation:

A reduction in the price of the gasoline may lead to an increase in the demand since people would be able to afford it, taking into account that the rest of the variables remain the same.

An increase in the market demand for gasoline in the present, all else equal, could be caused byA) a rise in peoples' income.B) a reduction in the price of the gasoline.C) an expected price decrease in the near future.D) a reduction in the cost of drilling and refining petroleum.

An increase in the market demand for gasoline in the present, all else equal, could be caused by

A) a rise in peoples' income.

B) a reduction in the price of the gasoline.

C) an expected price decrease in the near future.

D) a reduction in the cost of drilling and refining petroleum.