Solution-Expected change in the quantity of gasoline

Expected change in the quantity of gasoline

Reference no: EM131207228

The price elasticity of gasoline supply in the U.S. is 0.4. If the price of gasoline rises by 8%, what is the expected change in the quantity of gasoline supplied in the U.S.?

+3.2%
-3.2%
+32.0%
+0.32%

Reference no: EM131207228

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Expected change in the quantity of gasoline

Reference no: EM131207228

Reference no: EM131207228

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