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Gasoline prices in Toronto went up by 20 percent from $1.50/litre to $1.80/litre. Suppose the price elasticity of gasoline is 0.8. This implies that the
Gasoline prices in Toronto went up by 20 percent from $1.50/litre to $1.80/litre. Suppose the price elasticity of gasoline is 0.8. This implies that the quantity of gasoline demanded must have decreased by Question 15Select one: A. 0.04%. B. 3%. C. 16%. D. 25%. E. 4%
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