The longer the time period under study,
a. the more elastic is the price elasticity of demand.
b. the less sensitive consumers will be to price changes.
c. the less adjustment consumers will make to price changes.
d. the more inelastic is the price elasticity of demand.
e. the more likely any given price cut will result in a smaller reaction by the consumer.
a
Economics
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The rate of growth of productivity in the United States was positive during the 20th century
Indicate whether the statement is true or false
Economics
In the very short run:
a. new firms may enter an industry. b. existing firms may change the quantity they are supplying. c. price and quantity supplied are absolutely fixed. d. quantity supplied is absolutely fixed.
Economics