Similarity of elasticities of demand over price ranges

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Similarity of elasticities of demand over price ranges

When a price hike for regular gas from $2.00 to $2.20 reduces quantity demanded from 20 million gallons to 19 million gallons daily, and an raise in the price of premium gas from $3.00 to $3.20 decreases its quantity demanded daily from 20 million gallons to 19 million gallons, in that case this is UNTRUE such that: (w) slopes of the two demand curves are the same. (x) elasticities of demand for the two types of gas are similar over these price ranges. (y) demand for premium is more elastic than demand for regular gas over these price ranges. (z) both types of demand are relatively inelastic.

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