Business, 12.03.2020 04:51, alejandra216

4)Gasoline and bicycles are substitutes in consumption. Suppose we increase the federal gasoline taxto $1 per gallon. What are the initial changes that result from the tax as these markets adjust to anew general equilibrium?4)A)Gasoline price rises, and there is a move downward along the bicycle demand curve. B)Gasoline price rises, and there is a move upward along the bicycle demand curve. C)Gasoline price rises, demand for bicycles shifts rightward. D)Gasoline price rises, demand for bicycles shift s leftward.

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4)Gasoline and bicycles are substitutes in consumption. Suppose we increase the federal gasoline tax...