If the price of gasoline is 400 per gallon and the price


If the price of gasoline is 4.00 per gallon and the price elasticity of demand is 0.4, how much will a 10% reduction in the quantity placed on the market increase the price? Will total spending on gasoline rise if so by what percentage?

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Business Economics: If the price of gasoline is 400 per gallon and the price
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