Generally, demand is more _____ in the _____ because consumers can fully adjust to price changes.
A) elastic; short run
B) elastic; long run
C) unit elastic; long run
D) inelastic; short run

Question

Quizplus · Accepted Answer

Demand is generally more elastic in the long run because consumers have more time to adjust their consumption habits and explore alternatives in response to price changes.

Generally, Demand Is More _____ in the _____ Because Consumers

Generally, Demand Is More _ in the _ Because Consumers