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inelastic with respect to price. What does this mean? Why would the demand for gasoline be price inelastic? 7. A simple demand schedule for a

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inelastic with respect to price. What does this mean? Why would the demand for gasoline be price inelastic? 7. A simple demand schedule for a company follows: Price Quantity $6 $5 $4 UT D WN - O $3 $2 $1 Find the dollar value of total revenue at each of the six prices. At what price will total revenue be the greatest? How many units will sell at that price

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