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You are an energy-conservation-minded consumer whose only goal in choosing a car is to minimize the depletion of the planet's store of fossil fuels. You usually drive an average of 7,000 miles every year. If gasoline is $1 per gallon, and if you can't afford to buy a new car:

Should you rent a 40-year-old Buick ($100/yr, 20 miles per gallon) or a 10-year-old Toyota ($600/yr, 40 mpg)?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M939959

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