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Title: Suppose the price of gasoline is $3.50 per gallon, the quantity of gasoline demanded is 150 billion ... Post by: yuknam on Oct 9, 2019 Question 1. What factors would make you more sensitive or less sensitive to price when purchasing gasoline? Question 2. Suppose the price of gasoline is $3.50 per gallon, the quantity of gasoline demanded is 150 billion gallons per year, the price elasticity of demand for gasoline is -0.06, and the federal government decides to increase the excise tax on gasoline by $1.00 per gallon, which increases the price of gasoline by $0.75 per gallon. What is the new equilibrium quantity of gasoline demanded after the tax is imposed? ▸ 109.72 billion gallons per year ▸ 127.25 billion gallons per year ▸ 148.27 billion gallons per year ▸ 161.61 billion gallons per year Title: Suppose the price of gasoline is $3.50 per gallon, the quantity of gasoline demanded is 150 billion ... Post by: Niquegirl21! on Oct 9, 2019 Content hidden
Title: Suppose the price of gasoline is $3.50 per gallon, the quantity of gasoline demanded is 150 billion ... Post by: yuknam on Oct 9, 2019 You make an excellent tutor!
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