Social Studies

Fletcher

18 October, 23:33

32. Holding all other forces constant, when the price ofgasoline rises, the number of gallons of gasoline demanded wouldfall substantially over a ten-year period because

a. buyers tend to be much less sensitive to a change in pricewhen given more time to react.

b. buyers tend to be much more sensitive to a change in pricewhen given more time to react.

c. buyers will have substantially more income over a ten-yearperiod.

d. the quantity supplied of gasoline increases very little inresponse to an increase in the price of gasoline.