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Suppose the market for gasoline is in equilibrium. You have heard that the price of crude oil is falling because of new oil discoveries. You are also aware that the number of car and truck drivers is steadily rising. Knowing this, you predict that the price of gasoline will _____ and the quantity of gasoline bought and sold will

User Nephi
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Answer:

Price of gasoline can be rise or fall, more crude oil will required.

Step-by-step explanation:

From the information given in the question price of crude oil intentionally is decreasing due to the new discovories in the oil industries. Hence it affect the selling price of gasoline. But at the same time number of car and truck drivers increasing which set up new job in driving business. Therefore for more vehicle more crude oil will required.

The price of gasoline can be rise or fall because it depend on many factor not only on the price of gasoline in the international market.

User Ahmer
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