The demand for electricity is more elastic in the long run than in the short run because
A)more electricity can be produced in the long run.
B)consumers can shift to more efficient electrical appliances in the long run.
C)government regulation of electricity producers is most effective in the long run.
D)solar energy will eventually replace electricity in the long run.

Question

Quizplus · Accepted Answer

In the short run, consumers may not have the ability to switch to more efficient appliances or make significant changes to their energy consumption habits. However, in the long run, consumers have more time to make adjustments and can invest in energy-efficient appliances or even switch to alternative sources of energy like solar power. This increased flexibility and adaptability make the demand for electricity more elastic in the long run.

The Demand for Electricity Is More Elastic in the Long