If It Is Difficult to Substitute for a Good in the Short

question 64

Multiple Choice

If it is difficult to substitute for a good in the short run, but easy in the long run, then

• A)the elasticity of demand is more elastic in the short run.
• B)the elasticity of demand is more elastic in the long run.
• C)the good is an inferior good.
• D)elasticity changes along the demand curve.

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