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Illustrate the price of gas under the new law

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Reference no: EM131021386

Suppose the government mandated gasoline prices to remain constant at $4.26 per gallon everywhere across the country, restricting gas stations from increasing the price in the future. The law will take effect in 2012.

Is there an equation that would illustrate the price of gas under the new law? Is there an equation that is parallel to the equation that would illustrate the price of gas under the new law?

Reference no: EM131021386

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