During World War II, the price of rubber went up considerably. The rise in price stimulated research for alternatives. For example, today's automobile tires are almost entirely made 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:

rises the greater the time frame considered.

Explanation:

Since in the question, it is given that the rubber price increased up and they are made up of synthetic materials. Due to an increase in the price of the rubber, there is a large decline in quantity demanded

So this represents that if the price elasticity of demand increased the more the time period is relevant

i would say iii (3) because in order to compare a price you have to use as a reference other near stores because it's its

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