In the Long Run, Price Elasticities of Demand Are Usually

question 182

Multiple Choice

In the long run, price elasticities of demand are usually ____.

• A) less than they are in the short run because people can adjust
• B) the same as they are in the short run because tastes don't change
• C) greater than they are in the short run because prices rise over time
• D) less than they are in the short run because real prices fall over time
• E) greater than they are in the short run because consumers have time to adjust

---

Definitions:

Chronic Diseases

Long-term health conditions that persist for months or years, often incurable but can be managed through treatment and lifestyle changes.

Period Of Time

A duration in which events occur, ranging from seconds to millennia.

Health Care Costs

Expenses related to medical services, including prevention, treatment, rehabilitation, and health insurance.

Unhealthy Behaviors

Actions or habits that are detrimental to one's health, such as smoking, excessive drinking, and poor dietary choices.