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Increasing air pressure won't make the tires wear more quickly, and might even make them last slightly longer, assuming you aren't accelerating or braking too quickly. Overinflated tires don't have to flex as much, meaning they don't generate as much heat, meaning they should last a bit longer with the possible downsides being increased road noise, harsher ride, and possibly worse handling characteristics.
You could probably get 50 MPG if you drove at 45 MPH.
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