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

question 12

Multiple Choice

If the short-term own price elasticity for food is estimated to be −0.4,then long-term own price elasticity is expected to be:

• A) −0.4.
• B) greater than −0.4.
• C) less than −0.4.
• D) neither greater than, less than, nor equal to −0.4.