Both please QUESTION 13If buyers and sellers expect higher gasoline prices next week,demand increases and supply decreases today, therefore the equilibrium price increase todaydemand will increase and supply will decrease next week, therefore the equilibrium price increase next weeka.b.C.the demand for gasoline will be unaffected, and the effect in supply is uncertain.d.demand decreases and supply increases today, therefore the equilibrium price decrease todayO aO bQUESTION 14the equilibrium price of oranges increases, while the effect of quantity is ambiguousthe equilibrium price of oranges decreases, while equilibrium quantity increasesthe equilibrium quantity increases, and the effect in the price is ambiguousboth equilibrium quantity and price increasesIf the price of grapefruit increases, while a new fertilizer is discovered to enhance the production of oranges (cost saving technology). Then,a.b.С.d.O aall gnswers.ООО

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If buyers and sellers expect higher gasoline prices next week, a. demand increases and supply decreases today, therefore the equilibrium price increase today b. demand will increase and supply will decrease next week, therefore the equilibrium price increase next week с. the demand for gasoline will be unaffected, and the effect in supply is uncertain. d. demand decreases and supply increases today, therefore the equilibrium price decrease today d O O O

If buyers and sellers expect higher gasoline prices next week, a. demand increases and supply decreases today, therefore the equilibrium price increase today b. demand will increase and supply will decrease next week, therefore the equilibrium price increase next week с. the demand for gasoline will be unaffected, and the effect in supply is uncertain. d. demand decreases and supply increases today, therefore the equilibrium price decrease today d O O O

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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