ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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You are able to collect the following data on the impact of a one-cent increase in gasoline prices.
Calculate the percentage change in demand for each service station. (Round your responses to two decimal places. If the change is negative, be sure to include a minus sign.)
|
Service Station |
Gasoline Sold (thousands of gallons) With No Price Increase |
Gasoline Sold (thousands of gallons) With 1-Cent Price Increase |
Percentage Change |
|
A |
120 |
90 |
|
|
B |
160 |
140 |
|
|
C |
210 |
180 |
|
|
D |
320 |
280 |
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