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To determine whether an increase in the price of gasoline results in a consumer spending a larger ...

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To determine whether an increase in the price of gasoline results in a consumer spending a larger ...

To determine whether an increase in the price of gasoline results in a consumer spending a larger share of their expenditure on gasoline we need to know
A) only how much money the consumer spends on gasoline before the price change
B) only the change in the price of gasoline
C) only the change in the price of gasoline as a percentage of the original price
D) only the own price elasticity of demand for gasoline
E) none of the above

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Microeconomics

Edition: 8^th

Author: Pindyck

Read 56 times

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nakungth Author

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Thank you!

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