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Sublight2097 Sublight2097
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8 years ago
"A doubling of the price of gasoline in the 1970s did not reduce consumption one iota." The person making the above claim evidently thinks the demand for gasoline is
A) completely elastic.
B) completely inelastic.
C) greater than the supply.
D) less than the supply.
E) unit elastic.
Textbook 
The Economic Way of Thinking

The Economic Way of Thinking


Edition: 13th
Authors:
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DropxDropx
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8 years ago
Seriously, you've been tremendously helpful! Thank you.
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8 years ago
Thanks for updating the community. A lot posters don't realize how important feedback is!
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