In December 2014, the Average Price of Gasoline in the United

question 41

Multiple Choice

In December 2014, the average price of gasoline in the United States was $2.50 per gallon and consumers bought 7 percent more gasoline than they had during April 2014, when the average price was $3.60 per gallon.Based on these figures, from April 2014 to December 2014, the demand for gasoline was

• A)elastic.
• B)inelastic.
• C)unit elastic.
• D)perfectly elastic.

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