Question

during world war ii, the price of rubber went up considerably. the rise in price stimulated research for alternatives. todays automobile tires are made almost entirely from synthetic materials. as a result, the increase in the price of rubber eventually led to a very large drop in quantity demanded. this is an example of how the price elasticity of demand: multiple choice rises the greater the time frame considered. falls the greater the time frame considered. rises the less specifically the good is defined. falls the less specifically the good is defined.

Explanation:

The problem is about the price elasticity of demand. The key concept is that the longer the time frame, the more elastic (responsive) the demand. In this case, over time, consumers found substitutes (synthetic materials for rubber), which made the demand for rubber more elastic, leading to a large drop in quantity demanded when price increased.

Answer:

rises the greater the time frame considered.