Compared to the long-run absolute elasticity of demand, the short-run absolute elasticity of demand is
A) smaller.
B) the same.
C) larger.
D) either smaller or larger, depending on other factors.
A
You might also like to view...
A professional basketball franchise is trying to assemble a parcel of land to build an arena. There are 25 houses on the land the franchise needs. In this case,
A) eminent domain can reduce transactions costs and make a pie-increasing arena possible. B) eminent domain can reduce the likelihood of holdouts and make a pie-increasing arena possible. C) eminent domain is not called for as the land can probably be acquired more efficiently through bargaining. D) Both A and B are correct.
The quantity theory of money is better able to
A. To explain the inflation rate in the long run B. To explain the full employment in the long run C. To explain the inflation rate in the short run