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Author Question: Recall the Application about how changes in supply affect the price of gasoline to answer the ... (Read 123 times)

mia

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on: Jul 20, 2019
Recall the Application about how changes in supply affect the price of gasoline to answer the following
question(s).


Recall the Application. Suppose the price elasticity of demand for gasoline is 0.20 and the price elasticity of supply for gasoline is 0.55. If supply decreases by 50 percent, the equilibrium price will increase by:
◦ 67 percent.
◦ 70 percent.
◦ 143 percent.
◦ 150 percent.
Microeconomics: Principles, Applications and Tools ¦ O'Sullivan, Sheffrin, Perez ¦ 8th Edition
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Marked as best answer by mia on Jul 20, 2019

potomatos

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Reply #1 on: Jul 20, 2019
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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mia

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Reply 2 on: Jul 20, 2019
Thanks for the timely response, appreciate it

emsimon14

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Reply 3 on: Yesterday
Excellent

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