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Gasoline prices above $3 per gallon

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Question

Gasoline prices above $3 per gallon have affected what Enterprise Rental Car Company can charge of various model of rental cars. SUVs are $37 with one-day return and subcompacts are $41 with one-day return. Why would the equilibrium price of SUVs such as Ford Explorers and Chevy Trailblazers be lower than the equilibrium price of subcompacts?

 

Paper#25722 | Written in 18-Jul-2015

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