Question: The following table gives hypothetical data for the quantity of gasoline demanded

The following table gives hypothetical data for the quantity of gasoline demanded and supplied in Los Angeles per month.


a. Graph the demand and supply curves.
b. Find the equilibrium price and quantity.
c. Illustrate on your graph how a rise in the price of automobiles would affect the gasolinemarket.
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  • CreatedDecember 11, 2012
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