Although higher gas prices eventually encourage consumers to cut back on driving or switch to more fuel-efficient vehicles, in the short-run they may have few options but to cut back on other expenditures in the family budget. In the short run, the price elasticity of demand is most likely to beselect one:a. infiniteb. -0.5c. -1d. -2

Although higher gas prices eventually encourage consumers to cut back on driving or switch to more fuel-efficient vehicles, in the short-run they may have few options but to cut back on other expenditures in the family budget. In the short run, the price elasticity of demand is most likely to be Select one: O a. Infinite O b. -0.5 O c. -1 O d. -2 Next page