The Longer the Time Period Under Study

question 15

Multiple Choice

The longer the time period under study,

• A) the more elastic is the price elasticity of demand.
• B) the less sensitive consumers will be to price changes.
• C) the less adjustment consumers will make to price changes.
• D) the more inelastic is the price elasticity of demand.
• E) the more likely any given price cut will result in a smaller reaction by the consumer.