--%>

Determine elasticity of demand for gasoline

When the U.S. price elasticity of demand for gasoline is 1.0, the price elasticity of demand for gas sold through one of several gas stations along a busy highway: (w) less than 1.0. (x) 1.0. (y) greater than 1.0. (z) zero.

I need a good answer on the topic of Economic problems. Please give me your suggestion for the same by using above options.

   Related Questions in Microeconomics

  • Q : Reducing elasticities of demands by

    By product differentiation, firms try to increase the: (w) demands for their products, when reducing elasticities of demands. (x) supply elasticities of competing products. (y) price elasticity of the demand for their products. (z) marginal costs of t

  • Q : Define change in demand Change in

    Change in demand: When change in demand takes place due to change in factor other than price, it is termed as change in demand.

  • Q : Profit-maximizing price and output

    Unlike a purely competitive firm, a monopolist can: (w) select a price and sell as much as this needs (x) equate marginal revenue as well as marginal cost to maximize profits. (y) produce any required amount and sell as much as this d

  • Q : Selling product below cost by predatory

    Nintendo Co. of Japan has been accused of discarding its products (as selling below cost) upon the U.S. market that harms U.S. producers. When true, it is an illustration of: (w) excessive international competition. (x) protectionism. (y) aggressive advertising. (z) p

  • Q : Output and experiences by long run

    This monopolistic competitor generates Q0 output and experiences: (1) only normal accounting profits, and zero economic profits. (2) positive economic profits. (3) high costs because of excessive managerial salaries. (4) stagnation because

  • Q : Investment and the Demand for Loanable

    When the present value of the expected future income by additional investment exceeds the current cost of additional investment, in that case investment will: (w) rise. (x) fall. (y) not change. (z) There is insuffici

  • Q : Perfect competition and monopoly I have

    I have difficulty in this question. Provide me correct solution of this economy question. Compare & contrast the supposition of monopolistic competition along with perfect competition & monopoly.

  • Q : Marginal cost due to technology Due to

    Due to enhancement of technology, the marginal costs of televisions encompass vanished. How will it influence the supply curve of television? Answer: Supply curve w

  • Q : Formula for primary deficit What is the

    What is the formula for primary deficit? Answer: Primary deficit = fiscal deficit – interest payment.

  • Q : Immunity of Corporate giants in market

    Can someone help me in finding out the most precise answer from the given options. The Corporate giants are not immune to the market pressures since: (i) They experience the diseconomies of scale. (ii) Advertising decreases the barriers to entry. (iii) Profits give an