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Home Q & A Board Other Fields Homework Help Business Economics
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Sublight2097 Sublight2097
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Posts: 4132
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8 years ago
Were the price of gasoline to permanently increase by 10% overnight and stay there for the foreseeable future. Other things constant,
A) the demand for gasoline would fall immediately.
B) the quantity demanded for gasoline would fall immediately.
C) the quantity demanded for gasoline would fall more dramatically over time
D) the quantity demanded for gasoline would remain unchanged, because cars can only be run on gasoline.
Textbook 
The Economic Way of Thinking

The Economic Way of Thinking


Edition: 13th
Authors:
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DropxDropx
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#1
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8 years ago
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Sublight2097 Author
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#2
8 years ago
I've noticed they use a lot of trickery with their questions. Thank you for your input.
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#3
8 years ago
Thanks for the feedback Slight Smile
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