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Title: "Gasoline purchases were up 10% last week, even though gasoline prices were 6 cents higher than the Post by: Sublight2097 on Jun 20, 2015 "Gasoline purchases were up 10% last week, even though gasoline prices were 6 cents higher than the week before! You see, the law of demand does not hold for gasoline!" What is being misunderstood in the above statement?
A) Nothing at all. B) It implies the demand curve for gasoline is vertical. C) It fails to recognize that the demand curve has shifted to the right. D) It fails to hold constant all the other factors that influence demand. Title: Re: "Gasoline purchases were up 10% last week, even though gasoline prices were 6 cents higher than Post by: Smoooth on Aug 12, 2015 Content hidden
Title: Re: "Gasoline purchases were up 10% last week, even though gasoline prices were 6 cents higher than the Post by: Sublight2097 on Aug 31, 2015 Another one in the books, marking it solved.
Title: Re: "Gasoline purchases were up 10% last week, even though gasoline prices were 6 cents higher than the Post by: Smoooth on Aug 31, 2015 No problemo :-]
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