What is the expected quantity demanded for gasoline

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At the beginning of this year, daily consumption of gasoline in the US amounted to 344 million gallons. It is estimated that for every 10% increase in the price of gasoline, quantity demanded falls by 1.50%. By the end of this year, the price of gasoline is expected to increase by 40 cents from $3.05 per gallon. Based on this information, what is the expected quantity demanded for gasoline at the end of this year? Please specify your answer to one decimal place.

Reference no: EM131007016

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