Which of the Following Is True About the Demand for Gasoline

question 95

Multiple Choice

Which of the following is true about the demand for gasoline?

• A)it is probably more price elastic in the long run because price will increase by a higher percentage.
• B)it is probably more price elastic in the long run because it is easier to find substitutes for gasoline in the long run.
• C)it is probably more price elastic in the short run because price will increase by a higher percentage.
• D)it is probably more price elastic in the short run because it is easier to find substitutes for gasoline in the short run.

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