Looking at the graph, if price was $2.20 per gallon and decreasedto $1.60 per gallon, how does quantity supplied of gasolinechange?

A. 640 million gallons to 720 million gallons

B. 720 million gallons to 600 millions gallons

C. 720 million gallons to 640 million gallons

$2.20 $2.00 $1.80 Price ($ per gallon) $1.60 $1.40 ($2.20 per gallon, 720 million gallons) ($2.00 per gallon, 700 million gallons) (51.80 per gallon, 680 million gallons) ($1.60 per gallon, 640 million gallons) (51.40 per gallon, 600 million gallons) ($1.20 per gallon, 550 million gallons) ($1.00 per gallon, 500 million gallons) $1.20 $1.00 300 400 500 600 700 800 900 Quantity of Gasoline (millions of gallons)   

Transcribed Image Text:

Price ($ per gallon) $2.20 $2.00 $1.80 $1.60 $1.40 $1.20 $1.00 ($2.20 per gallon, 720 million gallons) ($2.00 per gallon, 700 million gallons) ($1.80 per gallon, 680 million gallons) ($1.60 per gallon, 640 million gallons) ($1.40 per gallon, 600 million gallons) ($1.20 per gallon, 550 million gallons) ($1.00 per gallon, 500 million gallons) 300 400 500 600 700 800 900 Quantity of Gasoline (millions of gallons) Price ($ per gallon) $2.20 $2.00 $1.80 $1.60 $1.40 $1.20 $1.00 ($2.20 per gallon, 720 million gallons) ($2.00 per gallon, 700 million gallons) ($1.80 per gallon, 680 million gallons) ($1.60 per gallon, 640 million gallons) ($1.40 per gallon, 600 million gallons) ($1.20 per gallon, 550 million gallons) ($1.00 per gallon, 500 million gallons) 300 400 500 600 700 800 900 Quantity of Gasoline (millions of gallons)

Answer rating: 100% (QA)

The graph is a supply curve which shows the relations... View the full answer