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Can you explain . Explain the process by which the typical gasoline firm and market for gasoline moves to a new equilibrium in both the

Can you explain . Explain the process by which the typical gasoline firm and market for gasoline moves to a new equilibrium in both the short and the long run, if our society becomes wealthier (increased income.) Assume that gasoline is a normal good, the market for gasoline is perfectly competitive and gasoline is a constant cost industry

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