Suppose you have been hired as a management consultant by a major oil company to help it optimally price gasoline at its service stations. Your client wants to know what will happen to gasoline demand if it increases gasoline prices by one cent higher than its nearest competitors. One of the members of your consulting team, Debbie, shares that one time in colege she stopped buying gasoline from a service station that was one cent more expensive Based on this story, should you conclude that demand will fall to zero if the client raises gas prices by one cent? No, since this is an argument by anecdote which can lead to wrong conclusions Instead of relying on Debbie's college story to make a conclusion, you decide it is smarter to collect and analyze A a large amount of empirical data a small sample of empirical data C. a survey of anecdotes collected on the Internet Da survey of other team members' anecdotes You are able to collect the following data on the impact of a one-cent increase in gasoline prices. Calculate the percentage change in demand for each service station (Round your responses to two decimal places. If the change is negative, be sure to include a minus sign.) Service Station A B C D Gasoline Sold (thousands of gallons) With No Price Increase 110 160 220 320 Gasoline Sold (thousands of gallons) Percentage With 1-Cent Price Increase Change 70 130 170 270