Suppose the wholesale price of gasoline falls by 50 a gallon. Does the retail price fall by

Question:

Suppose the wholesale price of gasoline falls by 50¢ a gallon. Does the retail price fall by more than 50¢, by 50¢, or by less than 50¢?
a. Answer assuming that gas stations constitute a competitive constant-cost industry.
b. Answer assuming that gas stations constitute a competitive increasing-cost industry.