If it is difficult to substitute for a good in the short run, but easy in the long run, then
A)the elasticity of demand is more elastic in the short run.
B)the elasticity of demand is more elastic in the long run.
C)the good is an inferior good.
D)elasticity changes along the demand curve.

Question

Quizplus · Accepted Answer

If it is difficult to substitute for a good in the short run but easy in the long run, then the elasticity of demand is more elastic in the long run. This means that consumers are more willing and able to switch to alternative goods or services over time as they become available, so changes in the price of the original good will have a greater impact on the quantity demanded in the long run compared to the short run.

If It Is Difficult to Substitute for a Good in the Short