If the Short-Term Own Price Elasticity for Transportation Is Estimated

question 96

Multiple Choice

If the short-term own price elasticity for transportation is estimated to be −0.6,then long-term own price elasticity is expected to be:

• A) −0.6.
• B) greater than −0.6.
• C) less than −0.6.
• D) neither greater than, less than, nor equal to −0.6.

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Definitions:

Abbreviation

A shortened form of a word or phrase.

Path

A track or way worn by foot traffic or formed by animal or human passage.

Bursa

A fluid-filled sac located near joints that reduces friction between moving parts of the body, such as muscles and tendons.

Bursus

Likely a misspelling of "Bursa," which is a small fluid-filled sac located near the joints that reduces friction between moving parts.