Question

A large increase in gas prices creates a demand for cars with good gas mileage. It takes months for car companies to make these cars. How do you describe this market for cars?

A. inelastic
B. elastic
C. static
D. inferior

Answer 1

"Inelastic" is the one way among the choices given in the question would be the best way to describe this market for cars. The correct option among all the options that are given in the question is the first option or option "A". I hope that this is the answer that has actually come to your great help.