question archive Two drivers - Jack and Jill - each drive up to a gas station
Two drivers - Jack and Jill - each drive up to a gas station
Subject:EconomicsPrice:2.88 Bought3
Two drivers - Jack and Jill - each drive up to a gas station. Before looking at the price, each place an order. Jack says, I'd like 10 gallons of gas." Jill says, "I'd like $20 worth of gas."
What is each driver's price elasticity of demand?
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