It is likely that
A)the demand for flat-screen computer monitors is more elastic than the demand for monitors in general.
B)the demand for grandfather clocks is more elastic than the demand for wristwatches.
C)the demand for cardboard is more elastic over a long period of time than over a short period of time.
D)All of the above are correct.

Question

Quizplus · Accepted Answer

All of the statements are true because the demand for a specific type of product is usually more elastic than the demand for the product category as a whole, the demand for a durable good is usually more elastic than the demand for a non-durable good, and the demand for a product is usually more elastic over a long period of time than over a short period of time.

It Is Likely That