Multiple Choice
If research finds demand elasticities of 0.05 and 0.6 for the same good or service, then
A) both are definitely short-run demand elasticities.
B) both are definitely long-run demand elasticities.
C) 0.05 is the short-run demand elasticity and 0.6 is the long-run demand elasticity.
D) 0.6 is the short-run demand elasticity and 0.05 is the long-run demand elasticity.
Correct Answer:
Verified
Correct Answer:
Verified
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