9. Compared to other liquids, gasoline is cheap In 2008, when gasoline hit $4 a gallon, motorists...

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9. Compared to other liquids, gasoline is cheap In 2008, when gasoline hit $4 a gallon, motorists complained, but they didn’t complain about $1.59 for a 20-oz Gatorade and $18 for 16 ml of HP ink.

Source: The New York Times, May 27, 2008 The prices per gallon are $10.17 for Gatorade and $4,294.58 for printer ink.

How can the paradox of value be used to explain why the fluids listed in the news clip might be less valuable than gasoline, yet far more expensive?

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Foundations Of Microeconomics

ISBN: 9780063076280

7th Global Edition

Authors: Bade, Robin;Parkin, Michael

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Question Posted: Nov 08, 2024 02:00 AM

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9. Compared to other liquids, gasoline is cheap In 2008, when gasoline hit $4 a gallon, motorists...

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Foundations Of Microeconomics

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