The Demand for Gasoline in the Short Run Is

question 251

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 very few good substitutes for gasoline.

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Definitions:

Organizational Demands

Refers to the expectations, requirements, or needs that an organization places on its employees or departments to achieve its goals.

Temptation To Misrepresent

The urge or inclination to distort or falsify information, often encountered in negotiations where one party may see an advantage in not being entirely truthful.

Self-fulfilling Logic

A belief or expectation that, purely as a result of being held, causes itself to become true.

Ethical Criteria

Standards or principles that guide moral conduct and decision-making in various contexts.