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    Quanti Ty of Gasoline Demanded and Supplied in Los Angeles Per Month

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    asdasd
    The document shows a graph of the quantity of gasoline demanded and supplied in Los Angeles per month at different price levels. The equilibrium price is $1.20 per gallon, where the quantity demanded and supplied are equal. Below $1.20 there would be a surplus of gasoline, and above $1.20 a shortage would occur.

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    Quanti Ty of Gasoline Demanded and Supplied in Los Angeles Per Month

    Uploaded by

    asdasd
    3 views2 pages
    The document shows a graph of the quantity of gasoline demanded and supplied in Los Angeles per month at different price levels. The equilibrium price is $1.20 per gallon, where the quantity demanded and supplied are equal. Below $1.20 there would be a surplus of gasoline, and above $1.20 a shortage would occur.

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    The document shows a graph of the quantity of gasoline demanded and supplied in Los Angeles per month at different price levels. The equilibrium price is $1.20 per gallon, where the quantity demanded and supplied are equal. Below $1.20 there would be a surplus of gasoline, and above $1.20 a shortage would occur.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    3 views2 pages

    Quanti Ty of Gasoline Demanded and Supplied in Los Angeles Per Month

    Uploaded by

    asdasd
    The document shows a graph of the quantity of gasoline demanded and supplied in Los Angeles per month at different price levels. The equilibrium price is $1.20 per gallon, where the quantity demanded and supplied are equal. Below $1.20 there would be a surplus of gasoline, and above $1.20 a shortage would occur.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    of 2

    Quanti ty of gasoline demanded and supplied in Los Angeles

    per month

    $1.80
    Surplus
    $1.60

    $1.40 …………………………………………………………………….. Equilibrium Pf


    ……………………………………………………… …….
    $1.20
    Qd
    Price (in USD)

    $1.00

    $0.80 Price Flor


    $0.60 $1.20

    $0.40

    $0.20

    $0.00
    60 80 100 120 140 160 180 200 220 240 260

    Quantity Demanded and quantity supplied (in millions)

    Quantity Demanded (millions of gallons) Quantity Supplied (millions of gallons)


    Quanti ty of gasoline demanded and supplied in Los Angeles
    per month

    $1.80

    $1.60

    $1.40 ……………………………………………………………………..
    ……………………………………………………… …….
    $1.20
    Qd
    Price (in USD)

    $1.00

    $0.80

    $0.60

    $0.40

    $0.20

    $0.00
    60 80 100 120 140 160 180 200 220 240 260

    Quantity Demanded and quantity supplied (in millions)

    Quantity Demanded (millions of gallons) Quantity Supplied (millions of gallons)

    ……………………………………………………………………..

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