【单选题】Although many brands of gasoline are sold on Haibei island, gasoline companies there get all of the refined gasoline they sell from Haibei seaports only storage tank, which is always refilled with the...
A.
Consumers are usually unaware of variations in the quality of the gasoline they buy unless those variations are announced by the gasoline companies.
B.
When tankers make gasoline delivery at Haibei' s seaport , the storage tank an Hailed always receives the same quantity of gasoline as that in the preceding delivery.
C.
There is a wide variation in the price at which the different brands of gasoline on Haibei are sold.
D.
If any gasoline company on Haibei alters the quality of its gasoline before sale, the other gasoline companies also use methods before sale that result in the same change in the quality of their gasoline.
E.
The gasoline storage tank on Haibei' s large enough to meet the needs of all of Haibei s different gasoline companies .
【单选题】Assume the price of gasoline is $2.40 per gallon, and the equilibrium quantity of gasoline is 12 million gallons per day with no tax on gasoline. Starting from this initial situation, which of the fol...
A.
A 10 percent increase in the price of gasoline reduces the quantity of gasoline demanded by 2 percent and it increases the quantity of gasoline supplied by 5 percent; and the tax on gasoline amounts to $0.40 per gallon.
B.
A 10 percent increase in the price of gasoline reduces the quantity of gasoline demanded by 2 percent and it increases the quantity of gasoline supplied by 7 percent; and the tax on gasoline amounts to $0.40 per gallon.
C.
A 10 percent increase in the price of gasoline reduces the quantity of gasoline demanded by 1 percent and it increases the quantity of gasoline supplied by 8 percent; and the tax on gasoline amounts to $0.35 per gallon.
D.
There is insufficient information to make this determination.