Price Elasticity of Demand Is Generally

question 169

Multiple Choice

Price elasticity of demand is generally

• A)greater in the long run than in the short run.
• B)greater in the short run than in the long run.
• C)the same in both the short run and the long run.
• D)greater for "necessities" than it is for "luxuries."

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Understand the foundational concepts and categories of group behavior.