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Studies Show That the Demand for Gasoline Is

Question 332

Multiple Choice

Studies show that the demand for gasoline is


A) price inelastic in the short run but elastic in the long run.
B) price inelastic in both the short and long run.
C) price elastic in the short run but inelastic in the long run.
D) price elastic in both the short and long run.

Correct Answer:

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