As More Time Passes,the Price Elasticity of Gasoline

question 232

Multiple Choice

As more time passes,the price elasticity of gasoline

• A) increases.
• B) decreases.
• C) stays the same.
• D) becomes perfectly inelastic.
• E) becomes perfectly elastic.

---

Definitions:

Partnership Obligations

The duties and responsibilities that partners in a business partnership have towards each other, the partnership itself, and third parties, including financial and fiduciary duties.

Dissociated

Pertaining to a member who has ended their involvement with or participation in a business entity.

Dissociation

The process by which a member of a partnership or an entity withdraws or is removed from the entity, causing changes in the entity's structure or operations.

Partnership Term

The duration for which a partnership agreement is set to exist, which can be indefinite or fixed, as specified in the partnership agreement.