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The Cross-Price Elasticity of the Demand for Gasoline-Powered Cars with Respect

Question 12

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The cross-price elasticity of the demand for gasoline-powered cars with respect to the prices of gasoline is -0.71. Suppose that the price of gasoline increases from 2 to 2.10 euros per liter. How would that affect the demand for gasoline-powered cars?

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The price of gasoline increase...

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