A headline reads \"Gasoline Prices Are Higher.\" A likely explanation for this e

Question

A headline reads "Gasoline Prices Are Higher." A likely explanation for this event would be a(n): Increase in the demand for and the supply of gasoline Decrease in the demand for and the supply of gasoline Increase in the supply of gasoline and a decrease in the demand for gasoline Decrease in the supply of gasoline and an increase in the demand for gasoline Refer to the above table. If demand decreased by 4 units at each price and supply decreased by 2 units at each price, what would the new equilibrium price and quantity be? $3 and 5 units $4 and 4 units $5 and 5 units $6 and 6 units Owner-supplied labor is a cost that is usually: included in accounting costs but not in economic costs not included in either accounting costs or economic costs included in economic costs but not in accounting costs included in both accounting costs and economic costs ignored because it is impossible to place a value on it In managerial economics, managers are assumed to maximize: their take-home pay the value of their firm social welfare their employees' welfare current profits

Explanation / Answer

3. option no.4

4 $ 4 and 4 units

5.option c is correct.

6.b. the value of the firm.

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