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Instructions Use this information to answer questions 17-30 17-30 The price elasticity of the gasoline demand is 0.35. The price elasticity of demand of rail

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Instructions Use this information to answer questions 17-30 17-30 The price elasticity of the gasoline demand is 0.35. The price elasticity of demand of rail transit during rush hour is 0.15 and during off-peak hours is 1.2. The cross elasticity of demand of rail transit during rush hour with respect to the price of gasoline is 0.5 and the cross elasticity of demand of rail transit during off-peak hours with respect to the price of gasoline is 2. Moreover, the income elasticity of demand of rail transit during rush hour is 0.4 and the income elasticity of demand of rail transit during off peak hours is -07 17 242 points Suppose that the price of gasoline rises by 5%, what is the percentage change in the quantity demanded of gasoline? NOTE: This is a numeric answer.no explanation is needed 0.3675

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