An increase in the price of gasoline will Multiple Choice Shift the gasoline supply curve to the right. Shift the gasoline demand curve to the right. Shift the automobile supply curve to the left. Shift the automobile demand curve to the left.

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24-03-2020
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An increase in the price of gasoline will Multiple Choice Shift the gasoline supply curve to the right. Shift the gasoline demand curve to the right. Shift the automobile supply curve to the left. Shift the automobile demand curve to the left.

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agustinsr99 agustinsr99 · Answer 1 · 2020-03-27T02:22:42+01:00

Answer: The correct answer is "Shift the automobile demand curve to the left.".

Explanation: An increase in the price of gasoline does not shift the supply and demand curves of gasoline, but changes the quantity demanded and offered in equilibrium along the curves.

On the other hand, it has a collateral effect on the demand for automobiles, because if it produces a shift (decrease) in the automobile demand curve to the left, given the high price of gasoline, people will tend to buy fewer cars.