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When the price of gasoline is $2.20 per gallon, 11 million gallons are demanded, and when the price of gasoline goes up to $2.60 per gallon, 10 million gallons are demanded. The gasoline in this range has a(n)
Automobile Industry
The sector of the economy that manufactures and sells motor vehicles, including cars, trucks, and motorcycles, playing a critical role in global transportation.
Textile Industry
An industry primarily concerned with the design, production, and distribution of yarn, cloth, and clothing. It was one of the earliest industries to industrialize in the 19th century.
Financial Savings
The portion of personal income that is set aside, not spent on immediate consumption, and typically put into a bank or investment account for future use.
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