We Predict the Long-Run Price Elasticity of Demand for Gasoline

question 93

Multiple Choice

We predict the long-run price elasticity of demand for gasoline to be _____ the short-run price elasticity of demand for it.

• A)less than
• B)larger than
• C)equal to
• D)not comparable to

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Definitions:

Lateral Hypothalamus

An area of the brain thought to control hunger and thirst; destruction of this area can cause an animal to refuse food and water.

Aphagic

The inability to swallow, which can be due to various neurological or physical disorders.

Hyperphagic

Describes an excessive eating behavior, often beyond the physiological need for food.

Achievement Motivation

A psychological construct that drives individuals to pursue and attain goals, often influencing their success in various tasks.