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Gasoline and Bicycles Are Substitutes in Consumption

question 63

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Gasoline and bicycles are substitutes in consumption. Suppose we increase the federal gasoline tax to $1 per gallon. Initially, the gasoline price rises due to the tax, and the demand curve for bicycles shifts rightward because these goods are substitutes. What are the secondary changes that result from the gasoline tax as these markets adjust to a new general equilibrium?


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Traditional Negligence Defenses

Defenses used in legal claims for negligence, including contributory negligence, comparative negligence, assumption of risk, and immunity, among others.

Severely Burned

An injury characterized by extensive damage to the skin and other tissues, often requiring medical intervention and characterized by varying degrees of pain, swelling, and blistering.

Duty

An obligation or responsibility imposed on an individual or entity by law or contract.

Patent Infringement

The unauthorized use, sale, or manufacturing of a patented invention without permission from the patent holder.

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