Holding all other forces constant,when the price of gasoline rises,why would the number of litres of gasoline demanded fall substantially over a 10-year period

Question

Quizplus · Accepted Answer

When given more time to react, buyers tend to be more sensitive to a change in price of a good. This is because they have more opportunities to change their behavior, such as finding substitutes, adjusting their consumption patterns or upgrading to more fuel-efficient cars. Over a 10-year period, consumers may have more time to adjust, which could lead to a larger decrease in demand for gasoline in response to a price increase. Therefore, choice C is the best answer.

Holding All Other Forces Constant,when the Price of Gasoline Rises,why