Answer
Did the quantity of gasoline sold increase or decrease?
Work Step by Step
Demand has a positive relationship with both quantity and price. When demand rises, equilibrium prices and quantities rise.
Supply has a negative relationship with price. When supply increases, the equilibrium price increases. Supply has a positive relationship with equilibrium quantity.
Knowing whether the equilibrium price and quantity changed in the same direction will indicate whether the change was due to a change in supply or a change in demand.
