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Question
last month, a gallon of gas cost $3.50. this month, a gallon of gas costs $3.25. what will probably happen to the quantity of gas demanded? it will probably go up. it will probably go down. submit
According to the law of demand in economics, when the price of a good (gas, in this case) decreases (from $3.50 to $3.25 per gallon), assuming other factors remain constant, the quantity demanded of that good typically increases as consumers are more willing and able to buy it at a lower price.
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It will probably go up.