Social Studies

Isabel is a model for Vogue magazine and travels from Glendora to Los Angeles six times a week. She finds out that gas prices have decreased from $4.15 a gallon to $3.20 a gallon for premium. This makes her commute a little bit happier, but only plans to travel one additional time per week to Los Angeles for photo shoots. What is the price elasticity of demand for premium gasoline?

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Isabel is a model for Vogue magazine and travels from Glendora to Los Angeles six times a week. She...

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