Multiple Choice
Holding all other forces constant, when the price of gasoline rises, the number of gallons of gasoline demanded would fall substantially over a ten-year period because
A) buyers tend to be much less sensitive to a change in price when given more time to react.
B) buyers tend to be much more sensitive to a change in price when given more time to react.
C) buyers will have substantially more income over a ten-year period.
D) the quantity supplied of gasoline increases very little in response to an increase in the price of gasoline.
Correct Answer:

Verified
Correct Answer:
Verified
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