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Econ 302 Exam 2 FA07

# Econ 302 Exam 2 FA07 - Exam 2 Ec302 secs 7 and 13 Rashid...

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____ 6. Suppose every Buick owner’s demand for gasoline is 20 – 5 p for p less than or equal to 4 and 0 for p > 4. Every Dodge owner’s demand is 15 – 3 p for p less than or equal to 5 and 0 for p > 5. Suppose that Gas Pump, South Dakota, has 100 Buick owners and 250 Dodge owners. If the price of gasoline is \$4, what is the total amount of gasoline demanded in Gas Pump? a. 1,500 gallons b. 375 gallons c. 1,125 gallons d. 750 gallons e. None of the above. ____
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