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(Solved): 1. If the price of gasoline declined, we would expect (a) consumers to move down along their station ...



1. If the price of gasoline declined, we would expect (a) consumers to move down along their stationary demand curve to a higher quantity. (b) the demand curve for gasoline to shift to the right. (c) consumers to move up along their stationary demand curve to a lower quantity. (d) the demand curve for gasoline to shift to the left. 2. An increase in per capita income will cause the demand curve for lobster to (a) shift to the right if lobster is a normal good. (b) shift to the right if lobster is an inferior good. (c) shift to the left if lobster is a normal good. (d) stay the same, but the quantity of lobster demanded will increase. (e) stay the same, but the quantity of lobster demanded will decrease.



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