There Is One Gas Station in a Small Rural Town

question 6

Multiple Choice

There is one gas station in a small rural town.The owner of the station claims that he will sell the same quantity of gas no matter how high or low the price.If he is correct in this assertion,the demand curve for gas at his station must be _____,with a price elasticity of _____.

• A)vertical;zero
• B)vertical;infinity
• C)horizontal;zero
• D)horizontal;infinity

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Definitions:

Mutually Assured Destruction

A military doctrine holding that full-scale use of nuclear weapons by opposing sides would result in the destruction of both the attacker and the defender.

Nuclear Missiles

Weapons of mass destruction powered by nuclear energy, capable of causing massive destruction and loss of life when detonated.

Rogue Nation

A term used to describe a country that acts in a way that is not in line with international norms or laws, often engaging in dangerous or unpredictable behavior.

Ideology

denotes a systematic body of concepts, especially about human life and culture, that guides an individual, social movement, institution, or large group.