(Answered) Exxon gasoline is likely to have an elastic demand. TrueFalseExxon gasoline is likely to have an…

➤ When would demand for Exxon gasoline become noticeably more elastic?
Demand becomes more elastic over time as consumers adopt fuel-efficient cars, electric vehicles, or public transit. Greater station density, digital price comparison tools, and larger or sustained price differences also increase elasticity. Policy changes, urban planning, and infrastructure that expand alternatives will make demand more responsive to Exxon’s prices.