Assume the price of gasoline doubles tonight and remains at that price the next two years. The price elasticity of demand for gasoline measured tomorrow will be ______ when compared with the price elasticity of demand for gasoline measured two years from now.

Respuesta :

Answer:

more inelastic

Explanation:

Assume the price of gasoline doubles tonight and remains at that price for the next two years. The price elasticity of demand for gasoline measured tomorrow will be more inelastic when compared with the price elasticity of demand for gasoline measured two years from now.

Inelastic refers to the static quantity of a good or service when its price changes.