In the Long Run, Price Elasticities of Demand Are Usually

question 64

Multiple Choice

In the long run, price elasticities of demand are usually

• A) greater than they are in the short run because consumers have time to adjust.
• B) the same as they are in the short run because tastes don't change.
• C) less 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.

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