(Answered) Gas prices in chicago are currently a bit under 3 just a

Economics

Gas prices in Chicago are currently a bit under $3. Just a few years ago, gas prices were over $4. People respond to incentives. How do you think lower gas prices affect:

(a) Gasoline consumption?

(b) Miles traveled by car?

Explain your answers.

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Business Economics, Economics

Category:- Business Economics
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