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In December 2014, the Average Price of Gasoline in the United

Question 41

Multiple Choice

In December 2014, the average price of gasoline in the United States was $2.50 per gallon and consumers bought 7 percent more gasoline than they had during April 2014, when the average price was $3.60 per gallon.Based on these figures, from April 2014 to December 2014, the demand for gasoline was


A) elastic.
B) inelastic.
C) unit elastic.
D) perfectly elastic.

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