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Since December of 2021, the price of oil has risen about 50%, causing the price of gasoline to go up. According to economic theory, a
Since December of 2021, the price of oil has risen about 50%, causing the price of gasoline to go up. According to economic theory, a rational consumer would react to the higher price of gasoline: A) consume more gasoline because it is more valuable now. B) buy the same amount of gasoline because demand for gasoline is perfectly inelastic. 0) stop buying any gasoline at all because it will cost tow much. D) use less gasoline than they woukf if thie the price had not yone up
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