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an article in the wall street journal recently discussed the...

Question: an article in the wall street journal recently discussed the...

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An article in the Wall Street Journal recently discussed the market for gasoline in the United States during the summer of 2013. Compared with the previous summer (2012), the article stated that there will be lower demand, as cars become more efficient. The demand and supply graph below shows the market for gasoline in summer 2012. Use this graph to analyze the situation described in this article for the summer of 2013. How will this affect the graph? 2012 p.S per Gallon P2012 D2012 Qro12 Q Quantity of Gasoline The equilibrium price will decrease and the equilibrium quantity will decrease. The equilibrium price will decrease and the equilibrium quantity will increase. The equilibrium price will increase and the equilibrium quantity will increase 6

uestion 1y (1 point Consider the market for apartments in New York City illustrated in the figure below. Assume the market is initially in equilibrium at point A. Suppose liability insurance premiums paid by landlords on their rental properties decrease. How does this affect the market? S1 p. Rent Pl Di Qi Q. Quantity of Apartments The equilibrium price will decrease and the equilibrium quantity will decrease. The equilibrium price will increase and the equilibrium quantity will increase. The equilibrium price will increase and the equilibrium quantity will decrease. 4 5 6

$Question 20 (1 point) An article in the Wall Street Journal recently discussed the market for gasoline in the United States during the summer of 2013. production from hydraulic fracturing of shale deposits in the U.S. The demand and supply graph below shows the market for gasoline in summer 2012. Use this article for the summer of 2013. How will this affect the graph? Compared with the previous summer (2012), the article stated that there will be growth in graph to analyze the situation described in this S2012 p.S per Gallon P2012 D912 Opo12 Q. Quantity of Gasoline The equilibrium price will decrease and the equilibrium quantity will increase. The equilibrium price will decrease and the equilibrium quantity will decrease. The equilibrium price will increase and the equilibrium quantity will increase. 4 5 6$

Question 21 (1 point) Consider the market for apartments in New York City illustrated in the figure below. Assume the market is initially in equilibrium at point A. Suppose liability insurance premiums paid by landlords on their rental properties decrease. Suppose also that the price of houses increases making homeownership more expensive. How does this affect the market? Si p. Rent Pl Di Qi Q.Quantity of Apartments The equilibrium price will increase and the equilibrium quantity will decrease. The equilibrium price could increase or decrease and the equilibrium quantity will decrease 5 6

$An article in the Wall Street Journal recently discussed the market for gasoline in the United States during the summer of 2013. Compared with the previous summer (2012), the article stated that there will be growth in production from hydraulic fracturing of shale deposits in the U.S. The demand and supply graph below shows the market for gasoline in summer 2012. Use this graph to analyze the situation described in this article for the summer of 2013. How will this affect the graph? So12 p.S per Gallon P2o12 D2012 Qpn2 Q. Quantity of Gasoline The equilibrium price will rise. The equilibrium price will fall. The equilibrium price could rise or fall. 4$

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