Economics, Student Value Edition (7th Edition)
Economics, Student Value Edition (7th Edition)
7th Edition
ISBN: 9780134739229
Author: R. Glenn Hubbard, Anthony Patrick O'Brien
Publisher: PEARSON
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Chapter 4, Problem 4.3.8PA

Sub part (a):

To determine

The equilibrium price and quantity of gasoline after price ceiling.

Sub part (b):

To determine

The impact of decreasing the price.

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