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Other Fields Homework Help Economics Topic started by: Kaevyn04 on Oct 9, 2019



Title: In December 2014, the average price of gasoline in the United States was $2.50 per gallon and ...
Post by: Kaevyn04 on Oct 9, 2019

In December 2014, the average price of gasoline in the United States was $2.50 per gallon and consumers bought 7 percent more gasoline than they had during April 2014, when the average price was $3.60 per gallon. Based on these figures, when the price of gasoline fell from $3.60 per gallon to $2.50 per gallon, total revenue



increased.



decreased.



did not change.



There is not enough information to determine what happened to total revenue.



Title: In December 2014, the average price of gasoline in the United States was $2.50 per gallon and ...
Post by: joanamet on Oct 9, 2019
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Title: In December 2014, the average price of gasoline in the United States was $2.50 per gallon and ...
Post by: Kaevyn04 on Oct 9, 2019
Thanks