There is a shortage of gasoline at one dollar per gallon. the equilibrium price for gasoline is

a. one dollar per gallon
b. less than one dollar per gallon
c. more than one dollar per gallon
d. not calculable

The correct answer is C.

At the equilibrium point the market clears. This means that the amount demanded equals the amount supplied and that the desires of the producers and consumers that participate have been fulfilled.

When there is a shortage of gasoline (or excess demand), it means that the amount demanded by consumers at a specific price level is greater than the amount supplied by producers. Therefore, the adjustment mechanism of the market will operate, increasing the amount charged for gasoline, so that less consumers are willing to purchase it at a higher price. Adjustment will continue happening, and prices will continue growing, until the amounts supplied and demanded meet and an equilibrium is reached. Therefore, the equilibrium price for gasoline is greater than one euro per gallon.

concurrent jurisdiction is the ability to exercise judicial review by different courts at the same time, within the same territory, and over the same subject matter. for instance, a domestic violence matter may be heard in either a general civil court or a family court in the same county. whichever court actually exercises its jurisdiction first will do so exclusively.

c

explanation: because you need to reduce the pollution on land,the exhaust fumes will stop,and stop it in water,the oil that is in the oceanharms the fish   sorry if you   have been waiting long