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Mumz [18]
3 years ago
10

The time horizon of the demand curve is one determinant of the price elasticity of demand.If the price of gasoline is relatively

high for a long time, consumers are more likely to buy fuel-efficient cars or switch to alternatives like public transportation. Therefore, the demand for gasoline is ―――― elastic in the long run than in the short run.
Business
1 answer:
Genrish500 [490]3 years ago
3 0

Answer:

more

Explanation:

we know that here Price Elasticity of demand  is express as

Price Elasticity of demand = PercentageChange is quantity demanded ÷ PercentageChange in price    ...........................1

so that, Demand for gasoline is more elastic in the long run than in the short run because in the long run people can change their preferences and choices.

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Answer:

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Explanation:

Calculation for What is the amount of insurance expense that would appear on the company's income statement for the first year ended December 31

First step is to calculate insurance amount per year

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Note that May 1 to December 31 will give us 8 months

Therefore the amount of insurance expense that would appear on the company's income statement for the first year ended December 31 will be $8,800

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The last one, letter D
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