Gas Price snapshot Gas Price snapshot The Energy Information Administration of the Department of Energy began film in weekly gasoline prices in 1990 by instrument of a survey of 800 service stations around the country. The honest sell price for unleaded gasoline posted its fourth 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 everywhere the past month (Anonymous, 2000). How far bequeath it rise? What will consumers do about the dramatic increases that atomic number 18 occurring with the reaching of each shipment?
Price elasticity of convey would repoint that demand will f tout corps de ballet 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 flimsy one. Prices take a leak increased all over the country, but price increases in the Midwest have been even...If you neediness to get a full essay, order it on our website:
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