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Explain the effect of each of the given events

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Reference no: EM131611552

Question: 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.

Reference no: EM131611552

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