6 In 1971, residential electricity in the state of Washington cost about 1 cent per kilowatt-hour. In
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6 In 1971, residential electricity in the state of Washington cost about 1 cent per kilowatt-hour. In nearby Montana, it cost about 2 cents. In Washington, the average household used about 1200 kilowatt-hours per month, whereas Montanans used about half that much per household. Do these data provide us with two points on the average household's demand curve for residential electricity in this region? Why or why not?
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Essentials Of Economics
ISBN: 396414
2nd Edition
Authors: James D Gwartney; Richard Stroup; J R Clark
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