In the Long Run, Price Elasticities of Demand Are Usually

question 182

Multiple Choice

In the long run, price elasticities of demand are usually ____.

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

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