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To: PGR88
If gas sales are down 50%, then why are prices at records?

Come on! If you are serious, apply basic economics. When price goes up, demand goes down--not vice versa.

43 posted on 10/06/2012 11:00:06 AM PDT by imardmd1 (An armed society is a polite society -- but dangerous for the fool --)
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To: imardmd1
Come on! If you are serious, apply basic economics. When price goes up, demand goes down--not vice versa.

Vice versa would mean that when price goes down, demand goes up.

You disagree with this, lol? Demand has not supported the domestic retail price of gasoline for several years now. Every excuse in the world has been used to rationalize it.

Another basic economic truism would be that weak demand leads to a decline in price. Domestic demand for gasoline has proven not to be as inelastic as was supposed, therefore gasoline is not price inelastic, either, despite all the hot air expended upon the topic.

47 posted on 10/06/2012 11:25:34 AM PDT by RegulatorCountry
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