Suppose the market for gasoline is in equilibrium

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Suppose the market for gasoline is in equilibrium. Draw a diagram below of such a market. Next, suppose that it is found that com can be used to produce ethanol, which can be added to gasoline, effectively adding to the amount of gasoline available. Show what happens to the market for gasoline after ethanol is employed by the market. That is, show what happens to the equilibrium price and quantity of gasoline.

Reference no: EM13998458

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