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Get Full Access to Principles Of Economics - 2 Edition - Chapter 3 - Problem 36
Get Full Access to Principles Of Economics - 2 Edition - Chapter 3 - Problem 36

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# Solved: Review Figure 3.4. Suppose the government decided that, since gasoline is a

ISBN: 9781947172364 471

## Solution for problem 36 Chapter 3

Principles of Economics | 2nd Edition

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Problem 36

Review Figure 3.4. Suppose the government decided that, since gasoline is a necessity, its price should be legally capped at $1.30 per gallon. What do you anticipate would be the outcome in the gasoline market? Step-by-Step Solution: Step 1 of 2 There would be a shortage of gasoline in the market if the price of gasoline is capped at$1.30 per gallon.

Step 2 of 2

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