Project #3242 - DETERMINANTS OF SUPPLY AND DEMAND

Which determinants are mentioned in the short article? Explain.
How will they affect the supply and demand graph of the gasoline market?
Which of the graphs below illustrate these changes.

NOTE: At least two (2) determinants are mentioned in the article.

Baltimore Sun

 

May 12, 2009

 

Gas price starts climb

 

6 percent jump signals what could be a costlier summer driving season

 

In Maryland, the average price for a gallon of unleaded was $2.19 as of Monday, up from $2.03 a week earlier - in part because crude oil was approaching $60 a barrel.

"Due in part to signs that the economic recession may be turning around, slightly higher gas prices may be a sign that the summer driving season will bring increased demand as motorists take to the roads," said Ragina C. Averella, manager of public and government affairs for AAA Mid-Atlantic. "Time will tell as Memorial Day weekend, the unofficial start of summer, approaches in two weeks."



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Subject Mathematics
Due By (Pacific Time) 03/15/2013 12:00 am
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