As more time passes,the price elasticity of gasoline
A) increases.
B) decreases.
C) stays the same.
D) becomes perfectly inelastic.
E) becomes perfectly elastic.

Question

Quizplus · Accepted Answer

Over time, the price elasticity of gasoline increases because consumers and businesses have more time to adjust their behavior and find alternatives, such as more fuel-efficient vehicles or alternative modes of transportation.

As More Time Passes,the Price Elasticity of Gasoline