1.a )Consider the perfectly competitive market for gasoline. The aggregate demand forgasoline is D (p) = 100 - p. What is the choke price or the or the highest price %3D possible in the qiven demand function?

1.a )Consider the perfectly competitive market for gasoline. The aggregate demand forgasoline is D (p) = 100 - p. What is the choke price or the or the highest price %3D possible in the qiven demand function?

Economics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506725

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter24: Price-searcher Markets With High Entry Barriers

Section: Chapter Questions

Problem 13CQ

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