Why the short-run demand for gasoline is less elastic, Microeconomics

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Why the short-run demand for gasoline is less elastic

why the short-run demand for gasoline is less elastic than the long-run demand, when the price of gasoline rises, people immediately cut back on unnecessary trips. If the price of gasoline stays high, people eventually replace their cars with more fuel-efficient models.

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Microeconomics: Why the short-run demand for gasoline is less elastic

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Why the short-run demand for gasoline is less elastic than the long-run demand, when the price of gasoline rises, people immediately cut back on unnecessary trips.

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Microeconomics: Why the short-run demand for gasoline is less elastic

Reference No:- TGS040293

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Tax consequences of the distribution

Q : Npv of project-payback period

Q : Determine consumer spending for multiplier of economy

Q : Type of bond matures

Q : Why the short-run demand for gasoline is less elastic

Q : Market value exposure

Q : Appropriate cost of capital for division

Q : Compute the average markup percentage

Q : Company weighted average cost of capital

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Why the short-run demand for gasoline is less elastic

Reference No:- TGS040293

Recent Questions Asked Microeconomics

Q : Tax consequences of the distribution

Q : Npv of project-payback period

Q : Determine consumer spending for multiplier of economy

Q : Type of bond matures

Q : Why the short-run demand for gasoline is less elastic

Q : Market value exposure

Q : Appropriate cost of capital for division

Q : Compute the average markup percentage

Q : Company weighted average cost of capital

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