Top Posters
Since Sunday
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
apadong apadong
wrote...
Go to Answer
Posts: 856
Rep: 1 0
6 years ago
Related to the Economics in Practice on page 109: Which of the following best explains why demand is often more elastic in the long run than it is in the short run?
A) Consumers tend to postpone making purchasing decisions as long as possible.
B) In the long run, consumers have greater access to substitutes.
C) When demand is elastic, price increases reduce revenue because a small price increase will lead to a large decrease in quantity demanded.
D) In the short run, prices can change rapidly, but in the long run they are more stable.
Read 55 times
2 Replies
Replies
Answer verified by a subject expert
DeToXiFYDeToXiFY
wrote...
#1
Top Poster
Posts: 668
Rep: 11 0
6 years ago
Sign in or Sign up in seconds to unlock everything for free
1

Related Topics

apadong Author
wrote...
#2
6 years ago
Update: Correct!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1313 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 553
  
 89
  
 110
Your Opinion
Which is the best fuel for late night cramming?
Votes: 145
Previous poll results: What percentage of nature vs. nurture dictates human intelligence?