Multiple Choice
A 10 percent increase in gasoline prices reduces gasoline consumption by about
A) 6 percent after one year and 2.5 percent after five years.
B) 2.5 percent after one year and 6 percent after five years.
C) 10 percent after one year and 20 percent after five years.
D) 0 percent after one year and 1 percent after five years.
Correct Answer:
Verified
Correct Answer:
Verified
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