Demand for a product tends to be more elastic the longer the time period considered because
A) sellers have more time to expand production.
B) buyers have more time to search for substitutes.
C) price increases over time make the price larger relative to buyers' incomes.
D) the inverse relationship between the price and the quantity demanded weakens over time.
E) buyers get used to the new price.
B
Economics
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The marginal cost curve intersects the average fixed, average variable, and average total cost curves all at their minimum points
Indicate whether the statement is true or false
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