In January 2010, the price of gasoline was $2.70 a gallon. By spring 2010, the price had… 1 answer below »


In January 2010, the value of gasoline was $2.70 a gallon. By germinate 2010, the value had increased to $3.00 a gallon. Assume that there were no changes in medium allowance, population, or any other govern on buying plans. Explain how the mount in the value of gasoline would affect

a. The ask-for for gasoline.

b. The share of gasoline ask-fored