If the price elasticity of demand (Ep) equals one in the short run, then, other things being equal, ...

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If the price elasticity of demand (Ep) equals one in the short run, then, other things being equal, ...

If the price elasticity of demand (Ep) equals one in the short run, then, other things being equal, in the long run Ep will be
A) one.
B) less than one.
C) greater than one.
D) indeterminate without more information.

Textbook

Economics Today: The Micro View

Edition: 19^th

Author: Miller

Read 29 times

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