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Suppose that when the price of gasoline is $3.50 per gallon, the total amount of gasoline supplied in the United States is 10 million barrels

Suppose that when the price of gasoline is $3.50 per gallon, the total amount of gasoline supplied in the United States is 10 million barrels per day. Also suppose that when the price of gas decreases to $3 per gallon, the total amount of gasoline supplied is 8 million barrels per day. Based on these numbers and using the simple formula, the percentage change in price is:

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