In the Long Run,the Price Elasticity of Demand Is ________

question 35

Multiple Choice

In the long run,the price elasticity of demand is ________ than in the short run because ________.

• A)less; consumers have more time in which to make adjustments to price changes
• B)less; the percentage change is measured over a larger amount of time
• C)greater; consumers have more time in which to make adjustments to price changes
• D)greater; firms have more time to shift the burden of the tax forward to consumers