Coke Cola purchased at Fareway is likely to be price elastic. It has many substitutes. Thus a small change in the price of Coke Cola at Fareway will result in a larger change in quantity sold.

Consumers spend very little

Gasoline prices could increase by 50 % and there would be very little effect on quantity demanded in the short-run. Consumers will adjust their car size and driving habits in the long-run. Thus, gasoline is likely to be more price elastic in the long-run than it is in the short-run.