The Demand for Gasoline Should Be

Multiple Choice

The demand for gasoline should be

A) less elastic in the long run than in the short run.
B) more elastic in the long run than in the short run.
C) equally elastic in the long run as in the short run.
D) perfectly inelastic in the long run and perfectly elastic in the short run.
E) unit elastic in both the long run and the short run.