Question

Consider a bp gas station. as a result of an economic recession and decreases in consumer incomes, there will be a:

Answer 1

During an economic recession when the income of consumers has decreased, the BP station (an all gas stations) will see a leftward shift in the demand curve. This will result in gas stations having to lower their prices. If they don't lower their prices, they will have a glut of gasoline that they can't sell.