A refinery that converts oil into petrol (gas) is operating under the following circumstances. 1 It is running at full capacity. 2 Its petrol storage tanks are full. 3 It has been delivered a new fleet of petrol tankers for transporting its petrol. 4 It takes six months to train new workers to meet safety procedures. Which of these conditions will tend to make the supply of petrol relatively price inelastic?
- A1 and 2
- B1 and 4
- C2 and 3
- D3 and 4