Prices of gasoline change rapidly if something interrupts the oil supply. How responsive do you believe the customers will be to price changes as a result of supply disruptions? Why? Support your...

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Extracted text: Prices of gasoline change rapidly if something interrupts the oil supply. How responsive do you believe the customers will be to price changes as a result of supply disruptions? Why? Support your answer using the determinants of the price elasticity of demand. Considering the concepts of the price elasticity of demand, why do you think that gas stations rarely offer promos or discounts? What will happen to their total revenue if they increase their price? And how about if they decrease their price?