Gasoline sells for $4.00 per gallon this year, and it sold for $3.00 per gallon last year.

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"Gasoline sells for $4.00 per gallon this year, and it sold for $3.00 per gallon last year. But consumers bought more gasoline this year than they did last year. This is clear proof that the economic theory that people buy less when the price rises is incorrect." Do you agree? Explain.
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Intermediate Microeconomics and Its Application

ISBN: 978-1133189039

12th edition

Authors: Walter Nicholson, Christopher M. Snyder

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