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In 2004 there was widespread dismay as the price of unleaded gasoline climbed to $2.03 a gallon.Motorists looked back longingly to 20 years earlier when they were paying just $1.19 a gallon.But how much had the real price of gasoline changed over this period,if the consumer price index was 1.81 times itself in 1984?
Monopolist
An entity, individual, or company that is the sole supplier of a particular commodity or service in a market, often resulting in the power to control prices and market conditions.
Market Demand
The aggregate amount of a product or service that every customer in a market is prepared and able to buy at different price levels.
AU Optronics
A Taiwan-based company specializing in the manufacturing of TFT LCD panels used in various electronic devices.
Price Fixing
An agreement among competitors to set the price of a product or service, rather than allowing it to be determined through free market competition.
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