Suppose That the Value of the Short-Run Absolute Elasticity of Demand

question 138

Multiple Choice

Suppose that the value of the short-run absolute elasticity of demand for a good is 0.38. Then, we know the long-run absolute price elasticity of demand will be

• A) 0.
• B) greater than 0.38.
• C) elastic.
• D) less than 0.38.

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