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The following events occur one at a time: (i)The price of crude oil rises. (ii)The price of a car rises. (iii)All speed limits on highways
The following events occur one at a time:
(i)The price of crude oil rises.
(ii)The price of a car rises.
(iii)All speed limits on highways are abolished.
(iv)Robots cut car production costs.
Explain the effect of each of these events on the market for gasoline.
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