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Business, 01.04.2021 20:00 missdee6929
Lynne, a Corolla driver, drives 10,000 miles per year, all of it in the city, where she gets 27 miles to the gallon. She graduates school, gets a nice job, and buys herself a Prius, which gets 51 miles to the gallon in the city. A 2007 study found that the elasticity of vehicle miles traveled (VMT) to the cost of travel is about -0.10, meaning that if the price of travel increases by 10%, the number of miles traveled will decrease by 1%. Assume these numbers describe Lynne. Using the answer to the previous question, how many miles will she travel per year now that she uses less gas
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Lynne, a Corolla driver, drives 10,000 miles per year, all of it in the city, where she gets 27 mile...
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