Multiple Choice
The demand for gasoline in the short run is
A) elastic because people can easily switch to public transportation.
B) perfectly inelastic because people have no choice but to buy gasoline.
C) unit elastic because people tend to consume a stable amount of gasoline per period.
D) inelastic because there are very few good substitutes for gasoline.
Correct Answer:
Verified
Correct Answer:
Verified
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