When the price of fuel approached $4/gallon before and during the recession, and college students could buy fewer pizzas because they had to spend more on gas, this is a good example of
A. the highly elastic demand for gasoline ...
B. the substitution effect.
C. the income effect
D. all of the other answers
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Home » Business » When the price of fuel approached $4/gallon before and during the recession, and college students could buy fewer pizzas because they had to spend more on gas, this is a good example of A. the highly elastic demand for gasoline ... B.