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Surveys show that a small increase in the price of one brand of gasoline (e.g. Shell or Irving) will cause most people to switch to other brands. This finding suggests that the demand curve for an individual
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Surveys show that a small increase in the price of one brand of gasoline (e.g. Shell or Irving) will cause most people to switch to other brands. This finding suggests that the demand curve for an individual brand of gasoline is:

User Ifoukarakis
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5 votes

Answer:

Relative elastic

Step-by-step explanation:

Elastic demand means that quantity demanded is sensitive to price changes.

A small change in price leads to a greater change in quantity demanded

User Aditya Agarwal
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