The demand for gasoline is expected to be more elastic in the long run than in the short run.

Name: The demand for gasoline is expected to be more elastic in the long run than in the short run.
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In the long run, consumers have more time to adjust their behavior and make choices such as buying more fuel-efficient vehicles or using alternative modes of transportation, making the demand for gasoline more elastic compared to the short run where such adjustments are not as feasible.

The Demand for Gasoline Is Expected to Be More Elastic