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The Following Figure Depicts the Market Demand for Gasoline

Question 20

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The following figure depicts the market demand for gasoline. Suppose that the price of gasoline rises from US$2 to US$3 per gallon. Which areas represent the changes in (a) expenditure, and (b) buyer surplus?
The following figure depicts the market demand for gasoline. Suppose that the price of gasoline rises from US$2 to US$3 per gallon. Which areas represent the changes in (a) expenditure, and (b) buyer surplus?

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(a) Area 0zwt minus ...

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