Oil and Oil Products Remain the Main Fuel for Cars

question 135

Multiple Choice

Oil and oil products remain the main fuel for cars, planes, ships, and power plants. The amount of oil still in the earth is finite. Given this information, the supply of gasoline is:

• A)relatively elastic.
• B)relatively inelastic.
• C)unit elastic.
• D)greater than the quantity demanded.

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Definitions:

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