(Solution) - Using Figure calculate the price elasticity of demand when gaso -(2025 Original AI-Free Solution)

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Using Figure, calculate the price elasticity of demand when gasoline rises from $2 per gallon to $3 per gallon over each of the following time horizons:
a. 1 month (from point A to point B)
b. 6 months (from point A to point C)
c. 12 months (from point A to pointE