Your friend tells you that demand for gasoline in the United States increases in the summer because people travel more, and this causes the price of gas to increase in the summer. The friend argues that this is evidence that the "law of demand" doesn't apply for gasoline. Is the friend right or wrong?

Answer rating: 100% (QA)

Your friend is wrong The Law of Demand states that all else being equal as the price of a good or se... View the full answer