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(Solved): Last year Jojo spent $1.50 per litre on 100 litres of gasoline. This year the prices are 24 percent ...



Last year Jojo spent $1.50 per litre on 100 litres of gasoline. This year the prices are 24 percent higher at $1.86 per litre. So,he cut back his consumption to 88 litres, which is a 12 percent decrease. Based on this information, Jojo's price elasticity ofgasoline is Select one: O A. 2.0 O B. 2.4 c. 0.50,O D. 0.75O E. 0.20

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