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vesna_86 [32]
3 years ago
15

If the price of gasoline is relatively high for a long time, consumers are more likely to buy fuel-efficient cars or switch to a

lternatives like public transportation. Therefore, the demand for gasoline is_____________.
Business
1 answer:
MissTica3 years ago
6 0

Answer:

More elastic

Explanation:

The options to this question wasn't provided. The full question can be found here: https://www.chegg.com/homework-help/questions-and-answers/price-gasoline-relatively-high-long-time-consumers-likely-buy-fuel-efficient-cars-switch-a-q14245431

The elasticity of demand measures the degree of responsiveness of quantity demanded to changes in price.

Demand is elastic when a change in price has a greater effect on the quantity demanded.

In the above question, a rise in price of gasoline would lead to a decrease in its demand, this indicates that the demand for gasoline is elastic.

I hope my answer helps you.

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Answer and Explanation: From the following given case/scenario, we can state that , GoGo motors is trying to recombining and redeploying existing core competencies in order to compete with the other firms present in the industry in the upcoming future markets.  Since, the company has already realized that there is a vast growing demand for green automobiles and thus it has created a new market opportunity.

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Answer: their domestic consumers are demanding

Explanation:

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He posited that home demand has a huge influence on how favourable domestic industries are.

How?

A larger market at home presents companies with challenges as well as more opportunities to grow and become better and more efficient.

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If you need any clarification do react or comment.

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