Figure 4-25
Figure 4-25 illustrates the market for gasoline before the government imposes a tax to bring about the efficient level of gasoline production.
-Refer to Figure 4-25.The efficient equilibrium price of gasoline is ________ per gallon.

Question

Figure 4-25
  Figure 4-25 illustrates the market for gasoline before the government imposes a tax to bring about the efficient level of gasoline production.
-Refer to Figure 4-25.The efficient equilibrium price of gasoline is ________ per gallon.

Quizplus · Accepted Answer

The efficient equilibrium price of gasoline is $3.00 per gallon because at this price, the quantity supplied equals the quantity demanded.

Figure 4-25 Figure 4-25 Illustrates the Market for Gasoline Before