A run on gasoline occurs when consumers fears of gas, Ask an Expert

Economics

A "run on gasoline" occurs when consumers' fears of gas shortages in the future lead them to demand more gasoline now. Using supply and demand analysis, which of the following is consistent with this situation?

A. A supply shift from S1 to S2

B. A simultaneous demand shift from D1 to D2 and supply shift from S1 to S2

C. A demand shift from D1 to D2

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9479386

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