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Which of the following scenarios best illustrates the phenomenon of the equilibrium price? Select answer from the options below Most filling stations in a city
Which of the following scenarios best illustrates the phenomenon of the equilibrium price? Select answer from the options below Most filling stations in a city charge $4.50 a gallon for unleaded regular gas, and some drivers are trying to use their cars less because they cannot afford gasoline at this price. Some filling stations in a city charge $3.99 a gallon for unleaded regular gas, but the price in neighboring communities is $4.50 a gallon, so some of the local filling stations are raising their prices. Most filling stations in a city charge $3.99 a gallon for unleaded regular gas. Many drivers think the price is too high, so they are buying their gas in neighboring communities where it is cheaper. Most filling stations in a city charge $3.99 a gallon for unleaded regular gas, and most drivers are willing to pay that price for gasoline
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