In the Long Run, Price Elasticities of Demand Are Usually

Multiple Choice

In the long run, price elasticities of demand are usually

A) greater than they are in the short run because consumers have time to adjust.
B) the same as they are in the short run because tastes don't change.
C) less than they are in the short run because prices rise over time.
D) less than they are in the short run because real prices fall over time.