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The current price of gas is $2.5 per gallon and 100 million gallons are traded daily. The estimated slope of the supply curve for gas
The current price of gas is $2.5 per gallon and 100 million gallons are traded daily. The estimated slope of the supply curve for gas is 80 and the estimated slope of demand is -20. Because of the high price of gasoline, the government is considering imposing a price ceiling in the gasoline market. The ceiling price would be set at $2 per gallon
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Public Finance A Contemporary Application of Theory to Policy
Authors: David N Hyman
11th edition
9781305474253, 1285173953, 1305474252, 978-1285173955
