Multiple Choice
Recall the Application regarding the elasticity of demand for gasoline varying over time to answer the following question(s) .
-Recall the Application.In the short run,consumers have little time to respond to changes in the price of gasoline,and therefore the demand for gasoline is ________ in the short run compared to the long run.
A) more elastic
B) perfectly inelastic
C) unit elastic
D) less elastic
Correct Answer:

Verified
Correct Answer:
Verified
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