In early 2008, many predicted that in a relatively short
Question and Solution
In early 2008, many predicted that in a relatively short period of time, unleaded regular gasoline at the pump would be
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In early 2008, many predicted that in a relatively short period of time, unleaded regular gasoline at the pump would be selling for over $4. Do some research on the price of gasoline. Have those dire predictions materialized? What is the price of unleaded regular today in your city or town? If it is below $4 per gallon, what are the reasons? Similarly, if it is higher than $4, what has happened to drive up the price? Illustrate with supply and demand curves
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