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Author Question: The price elasticity of demand for gasoline is estimated to be -0.2. Two million gallons are sold ... (Read 141 times)

sdfghj

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on: Jul 1, 2018
The price elasticity of demand for gasoline is estimated to be -0.2. Two million gallons are sold daily at a price of 3. Use this information to calculate a demand curve for gasoline assuming it is linear.
 
  What will be an ideal response?

Question 2

Which good would you expect to have a greater price elasticity: a gallon of gasoline sold at a specific gasoline station on Main Street in Phoenix, a gallon of gasoline sold in Phoenix, or a gallon of gasoline sold in Arizona? Why?
 
  What will be an ideal response?
Microeconomics ¦ Perloff ¦ 8th Edition
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nickk12214

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Reply #1 on: Jul 1, 2018
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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sdfghj

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

helenmarkerine

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

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