Two drivers, Thelma and Louise, each drive up to a gas station. Before looking at the price,

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Two drivers, Thelma and Louise, each drive up to a gas station. Before looking at the price, each places an order. Thelma says, “I’d like 5 gallons of gas.” Louise says, “I’d like $20 worth of gas.” What is each driver’s price elasticity of demand?

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Principles Of Economics

ISBN: 9780357722718

10th Edition

Authors: N. Gregory Mankiw

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