Multiple Choice
If gasoline prices remain high long enough, people will arrange to do more telecommuting. This would be an example of why the elasticity of:
A) supply for gasoline is higher in the long run.
B) supply for gasoline is lower in the long run.
C) demand for gasoline is higher in the long run.
D) demand for gasoline is lower in the long run.
Correct Answer:
Verified
Correct Answer:
Verified
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