As the gas price hit $4 a gallon, commuters in New York and Boston switched from cars

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As the gas price hit $4 a gallon, commuters in New York and Boston switched from cars to public transit, with ridership rising 5 percent.

Explain the effect of a rise in the price of gasoline on a commuter’s budget line and the quantities of gasoline and public transit services purchased.

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Foundations Of Microeconomics

ISBN: 9780133477108

7th Edition

Authors: Robin Bade, Michael Parkin

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