Suppose You Have One Hour to Catch a Flight to Miami

question 127

Multiple Choice

Suppose you have one hour to catch a flight to Miami for spring break, and it takes 45 minutes to drive to the airport. Your car is almost out of gas and the price of gas at the closest gas station is higher than at other gas stations that are much farther away. To you, the price elasticity of demand for gas is likely to be ________ than it would be if you had several hours before the flight.

• A)higher
• B)lower
• C)more variable
• D)no different

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Definitions:

Stressful Situation

A scenario or event that triggers a state of tension or anxiety in individuals, challenging their ability to cope effectively.

New Social Movement

Collective actions that emerged from the 1960s onwards, focusing on issues like human rights, environmentalism, and social equality.

Women's Movement

A series of campaigns for reforms on issues such as reproductive rights, domestic violence, maternity leave, equal pay, women's suffrage, and sexual harassment.

Social Movement

Collective efforts by groups of people to achieve a shared objective, often related to social change.