Even the demand for a necessity such as gasoline will respond to a change in price, especially over a longer time horizon. a. TR

Question

OLEGan [10]

3 years ago

9

Even the demand for a necessity such as gasoline will respond to a change in price, especially over a longer time horizon. a. TR

UE b. FALSE

Chemistry

1 answer:

Aleks [24] · Answer 1 · 2022-06-10T18:10:02+03:00

Answer:

True

Explanation:

The demand and supply of goods and services especially those that are necessities will be influenced by a slight change in price. This is due to the effects of elasticity of demand and supply. Therefore, for the given example (i.e. gasoline), if there is a price change over a considerable period of time, the demand for gasoline will change.