Assume that the price of a bus trip is $1, and the price of a gallon of

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Assume that the price of a bus trip is $1, and the price of a gallon of gas is $2.50. What is the relative price of a gallon of gas, in terms of bus trips? What happens when the price of a bus trip rises to $1.25?

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Public Finance and Public Policy

ISBN: 978-1464143335

5th edition

Authors: Jonathan Gruber

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Question Posted: Nov 29, 2017 06:34 AM

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Assume that the price of a bus trip is $1, and the price of a gallon of

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A commuter could exchange 25 bus trips for 1 ...View the full answer

Public Finance and Public Policy

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