The Demand for Gasoline Should Be

question 10

Multiple Choice

The demand for gasoline should be

• A)less elastic in the long run than in the short run.
• B)more elastic in the long run than in the short run.
• C)equally elastic in the long run as in the short run.
• D)perfectly inelastic in the long run and perfectly elastic in the short run.
• E)unit elastic in both the long run and the short run.

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Definitions:

Leaning Back

A physical posture or metaphorical stance denoting relaxation, disengagement, or contemplation, depending on context.

Arms Crossed

A body language gesture often interpreted as being defensive, closed off, or uncomfortable.

Bias-free Language

Language that avoids prejudice, discrimination, or stereotypes, ensuring inclusivity and respect towards all individuals regardless of their background or identity.

Discriminating

Showing refined judgment or refined taste, able to discern subtle differences; in some contexts, it may refer to prejudicial or unfair differentiation.