Economic recession and decreases in consumer incomes

Reference no: EM13209664

Consider a BP gas station. As a result of an economic recession and decreases in consumer incomes, there will be a:

rightward shift in the station's supply curve and lower gas prices.
leftward shift in the station's supply curve and higher gas prices.
rightward shift in the station's demand curve and higher gas prices.
leftward shift in the station's demand curve and lower gas prices.

Reference no: EM13209664

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