Business, 08.01.2020 00:31 superfly903

Studies have fixed the short-run price elasticity of demand for gasoline at the pump at -0.20. suppose that international hostilities lead to a sudden cutoff of crude oil supplies. as a result, u. s. supplies of refined gasoline drop and the quantity demanded decreases by 20 percent.

if gasoline were selling for $2.50 per gallon before the cutoff, what new price would you expect to see in the coming? (hint" use the absolute value of the gasoline elasticity coefficient and treat all values as positive)

what will be the price of gasoline per gallon?

Answers: 3

Show answers

Other questions on the subject: Business

Business, 21.06.2019 19:50, kennrecklezz

Which of the following best explains why treasury bonds have an effect on the size of the money supply? a. the amount of treasury bonds in circulation affects both unemployment and inflation. b. the government can spend more money and charge lower taxes by using treasury bonds. c. the federal reserve bank can buy and sell these bonds to raise or lower bank deposits. d. the interest paid on treasury bonds influences the interest rates charged by private banks. 2b2t

Answers: 1

continue

Business, 22.06.2019 19:30, kraigstlistt

Each row in a database is a set of unique information called a(n) table. record. object. field.

Answers: 3

continue

Business, 22.06.2019 20:00, krystynas799

In myanmar, six laborers, each making the equivalent of $ 2.50 per day, can produce 40 units per day. in china, ten laborers, each making the equivalent of $ 2.25 per day, can produce 48 units. in billings comma montana, two laborers, each making $ 60.00 per day, can make 102 units. based on labor cost per unit only, the most economical location to produce the item is china , with a labor cost per unit of $ . 05. (enter your response rounded to two decimal places.)

Answers: 3

continue

Business, 23.06.2019 01:00, bugsbunny27

Weekly sales at nancy's restaurant total $ 84,000. labor required is 420 hours at a cost of $21,000. raw materials used amount to $40,000. what is the partial measure of productivity for labor hours?

Answers: 1

continue

You know the right answer?

Studies have fixed the short-run price elasticity of demand for gasoline at the pump at -0.20. suppo...