The longer the time period considered, the price elasticity of demand tends to:
A)decrease.
B)remain constant.
C)increase.
D)converge to zero.

Name: The longer the time period considered, the price elasticity of demand tends to: A)decrease. B)remain constant. C)increase. D)converge to zero.
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Question

The longer the time period considered, the price elasticity of demand tends to:
A)​decrease.
B)​remain constant.
C)​increase.
D)​converge to zero.

Quizplus · Accepted Answer

The price elasticity of demand tends to increase over time because consumers have more time to find substitutes or adjust their consumption habits in response to a price change.

The Longer the Time Period Considered, the Price Elasticity of Demand