The Amount of Time Elapsed Since a Price Change Impacts

question 87

Multiple Choice

The amount of time elapsed since a price change impacts on the elasticity of demand because as more time passes,

• A) people can find more substitutes and so the elasticity of demand increases.
• B) people can find more substitutes and so the elasticity of demand decreases.
• C) people's incomes will increase and so the elasticity of demand decreases.
• D) the good's price will have a chance to return to its previous level.

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