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Demand curves normal shapes

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In 2007, the price of gasoline in Canada was higher than it had been in 2006. Also in 2007, more gasoline was purchased in Canada than had been in 2006. According to the law of demand, higher prices cause lower quantities demanded, not higher. Use graphs to explain three potential reasons what might have happened to bring about a higher price and a higher quantity sold in 2007 than in 2006 if the supply and demand curves had their normal shapes.

Reference no: EM131090583

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