The Short Run Price Elasticity of Demand for Gasoline Is

question 19

Multiple Choice

The short run price elasticity of demand for gasoline is 0.5,and the long run price elasticity of demand for gasoline is 1.1.Demand for gasoline is ________ in the short run and ________ in the long run.

• A)elastic;inelastic
• B)inelastic;elastic
• C)elastic;unitarily elastic
• D)inelastic;unitarily inelastic

---

Definitions:

Lipid-soluble Hormone

A hormone that can pass through the cell membrane and interact with internal receptors due to its ability to dissolve in lipids.

Fenestrated Capillaries

Capillaries with pores in their endothelial lining, allowing for increased permeability to fluids and small molecules.

Proteases

Enzymes that break down proteins by cleaving peptide bonds, playing essential roles in digestion, immune function, and cell regulation.

Steroid Reproductive Hormones

Hormones derived from cholesterol, crucial for the development and functioning of reproductive organs.