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Corporate Average Fuel Economy
The foreshadowed Market Failures of the mid 1970's gave way to Corporate
Average Fuel Economy, regulation which would call for new standards in
automobile fuel efficiency. The market failures hinged on a number of outside
variables which could have had a drastic effect on domestic markets.
Resource Scarcity drove the American public to call for a more efficient
means of managing its resource use due to a) oil embargos on nondomestic
products and b) skyhigh prices at the pump.
Conservation of the world's non-renewable resources cams to the
foreground with a) higher pump prices and b) forecasted resource
expenditure before ....
Word count: 647 - Page count: 3
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