Which of the Following Statements Best Describes the Relationship Between

Multiple Choice

Which of the following statements best describes the relationship between short-run demand elasticity and long-run demand elasticity?

A) For many products, long-run demand is likely to be more price elastic than short-run demand.
B) For durable goods, long-run demand is likely to be more price elastic than short-run demand.
C) For many products, long-run demand is likely to be more price inelastic than short-run demand.
D) For most products, long-run and short-run demand elasticities are the same.