Which of the Following Is a Correct Statement About the Own

Multiple Choice

Which of the following is a correct statement about the own price elasticity of demand?

A) Demand tends to be more inelastic in the short term than in the long term.
B) Demand tends to be more elastic as more substitutes are available.
C) Demand tends to be more inelastic for goods that comprise a smaller share of a consumer's budget.
D) All of the statements are correct.