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Gasoline In California

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Gasoline In California
Suppose that the price of gasoline in California has been steadily dropping and is expected to continue to drop in the foreseeable future. Since automakers must comply with California’s strict environmental regulations, the average price range for electric cars on the market is greater than the average price range for gasoline engine vehicles. Show the effect of a steady decrease in the price of gasoline using indifference curves and budget constraints between the quantity of gasoline engine cars and electric cars purchased.
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