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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