£ all 29% 1 1 :21 PM What would happen to the demand curve for gasoline if every
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£ all 29% 1 1 :21 PM What would happen to the demand curve for gasoline if everyone believed the price of it was going to fall in the near future? shift to the left ? nothing shift upward shift to the right QUESTI 10 points Save Answer What do all the shifters of supply have in common? They always shift the supply curve to the right They all cause changes in cost of production OThey all cause demand to fall They always shift the supply curve to the left QUESTI?10points Save Answer Suppose a farmer could grow corn or wheat on his Click Save and Submit to save and submit. Click Save All Answers to save all Save All Answers Save and SubmitExplanation / Answer
What would happen to the demand curve for gasoline if everyone believed the price of it was going to fallin the near future?
Ans. a) shift to the left.
As everyone believed that the price of gasoline would fallin the near future,people will postpone its purchase to the future and thus the demand of gasoline would fall and shift to the left.
What do all the shifters of supply have in common?
Ans. b) They all cause changes in cost of production.
All the shifters of supply casue changes in cost of production. If the supply curve shifts to the right, it will reduce the cost of production.If the supply shifts to the left, it will cause the rise in cost of production.
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