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Author Question: Suppose you are advising the government on changes in the gasoline market. The current price is ... (Read 84 times)

mccallkeeler

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on: Oct 12, 2022
Suppose you are advising the government on changes in the gasoline market. The current price is $1.00 per litre and the long-run price elasticity of demand is constant at 0.8. If a tax on gasoline causes the price to rise to $1.50 per litre, then quantity demanded is predicted to fall in the long run by
◦ 32% and total expenditure will rise.
◦ 24% and total expenditure will fall.
◦ 12% and total expenditure will fall.
◦ 24% and total expenditure will rise.
◦ 50% and total expenditure will rise.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by mccallkeeler on Oct 12, 2022

dude123

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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mccallkeeler

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

carlsona147

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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