The Demand for Gasoline in the Short Run Is

question 179

Multiple Choice

The demand for gasoline in the short run is

• A) elastic because people can easily switch to public transportation.
• B) perfectly inelastic because people have no choice but to buy gasoline.
• C) unit-elastic because people tend to consume a stable amount of gasoline per period.
• D) inelastic because there are no good substitutes for gasoline.

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Definitions:

Extreme Fatigue

A condition of overwhelming and persistent tiredness or lack of energy not relieved by rest.

Common Cold

A viral infectious disease of the upper respiratory tract characterized by symptoms like sneezing, coughing, sore throat, and runny nose, usually self-limiting in nature.

Influenza

An extremely infectious virus affecting the respiratory system, leading to high fever, significant discomfort, and nasal congestion, frequently seen in widespread outbreaks.

Allergy

An immune system reaction to certain substances, resulting in symptoms like sneezing, itching, and difficulty breathing.