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:

Urban Areas

Regions characterized by higher population density and vast human features in comparison to areas surrounding it.

Developing

A term often used to describe countries or regions with a lower level of industrialization, economic development, and lower standard of living compared to more developed countries.

Traditional Civil Rights Organizations

Groups and organizations that have historically worked towards the legal recognition and protection of the civil rights of individuals, particularly marginalized communities.

Legal Segregation

The enforced separation of different racial groups within a country, community, or establishment by law, historically prominent in the United States as Jim Crow laws.