Gas Price snapshot Gas Price shot The Energy Information Administration of the Department of Energy began pull in in weekly gasoline prices in 1990 by essence of a survey of 800 service stations around the country. The mediocre sell price for unleaded gasoline posted its quaternate temper high during the week of June 12, 2000, increasing 5 cents a congius to an average of $1.681. The price at the pump is higher(prenominal) than the corresponding period last year by 56 cents and has erect 16.2 cents over the past month (Anonymous, 2000). How far go out it rise? What will consumers do about the dramatic increases that argon occurring with the reaching of each shipment?
Price elasticity of necessary would repoint that demand will f tout supporting players as prices continue to rise, which in turn should result in a reduction of prices and a subsequent increase in demand. Such may instal to be the case, but the scenario is an improbable one. Prices take a leak increased all over the country, but price increases in the Midwest have been even...If you indigence to get a full essay, order it on our website:
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