Higher taxes on gasoline result in: a shift in the supply of...

Higher taxes on gasoline result in: a shift in the supply of gasoline a movement along the supply of gasoline an increase in the demand for gasoline an increase in the supply of gasoline

Transcript

00:02 First the question so low off the mind.

00:04 What is the law? the mind want surprises higher.

00:07 There is less the mind not only for gasoline but also for other goods and services because the price is too high, so people will think it's too expensive to buy it.

00:17 So they were decided by last or is they would decide to buy nothing about this good or services so that the mine a weapon decrease in the end.

00:30 The second one explained how the substitution effect influence of gasoline purchases and give some examples.

00:41 What is the substitution effect when the price of a good rice is other things remaining the same, the relative price or opportunity cost rises as the opportunity cost off.

01:04 Good writers the substitution, if i will be happened and the people will or consumers will switch to a substitute so ones a price of gasoline is a higher.

01:25 Actually, the consumers will switch to buy the substitutes rather than gasoline's.

01:38 So i will give some examples.

01:40 Um, we know, uh, most of cars what you was castling to drive or tow one.

01:51 So give the price off gasolines hire.

01:55 Some people will choose not to drive the car because surprises off gasoline, the higher so it's expensive to gather.

02:12 Guess for driving the car so some people will maybe go takes the subway like the public transportation.

02:24 Or if they will, gets a bike.

02:26 Or maybe they work.

02:29 They will couple with other people...

Question

Higher taxes on gasoline result in: a shift in the supply of gasoline a movement along the supply of gasoline an increase in the demand for gasoline an increase in the supply of gasoline

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