THIS IS FOR ECONOMICS (please help) Gas prices have risen over a dollar the last 3 months. Apply the concept of supply and demand and explain what would happen to the supply of …

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asked Sep 12, 2024 80.5k views

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Waldo Hampton · Answer 1 · 2024-09-19T12:12:48+0000

Answer:

demand decrease, supply increase

Step-by-step explanation:

consumers will reduce spending with price increases, so demand will decrease. Therefore supply will increase as supply is inversely proportional to demand in this model.

THIS IS FOR ECONOMICS (please help) Gas prices have risen over a dollar the last 3 months. Apply the concept of supply and demand and explain what would happen to the supply of …

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