Why Are Long-Run Demand Curves Likely to Be More Elastic

question 84

Multiple Choice

Why are long-run demand curves likely to be more elastic than short-run demand curves?

• A)Prices tend to rise in the long-run.
• B)Prices tend to be stable in the long-run.
• C)Consumers have more time to adjust their purchase decisions in response to a change in price.
• D)Supply tends to adjust in the long run.

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