In the 1970s,gasoline shortages provoked a considerable number of serious proposals to ration gasoline.Shortages of certain agricultural commodities have NOT provoked such proposals because
A) gasoline is a luxury; food is a necessity.
B) there are more substitutes available for most individual agricultural commodities.
C) there is no substitute for gasoline.
D) gasoline is more price elastic than individual agricultural commodities.
E) agricultural commodities have highly price-elastic demand curves, while the demand for gasoline is perfectly inelastic.

Question

Quizplus · Accepted Answer

Unlike gasoline, there are a variety of substitutes available for most agricultural commodities that can be used as alternatives. Therefore, shortages of agricultural commodities do not typically provoke proposals to ration them. Additionally, food is considered a necessity, so rationing could have severe consequences for those who depend on these commodities for their daily sustenance.

In the 1970s,gasoline Shortages Provoked a Considerable Number of Serious