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

Question 64

Multiple Choice

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.

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