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Business, 21.04.2020 02:33 sophiav9780

Suppose you have been hired as a management consultant by a major oil company to help it optimally price gasoline at its service stations. Your client wants to know what will happen to gasoline demand if it increases gasoline prices by one cent higher than its nearest competitors. One of the members of your consulting team, Debbie, shares that one time in college she stopped buying gasoline from a service station that was one cent more expensive.
Based on this story, should you conclude that demand will fall to zero if the client raises gas prices by one cent?

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