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Suppose That the Value of the Short-Run Absolute Elasticity of Demand

Question 138

Multiple Choice

Suppose that the value of the short-run absolute elasticity of demand for a good is 0.38. Then, we know the long-run absolute price elasticity of demand will be


A) 0.
B) greater than 0.38.
C) elastic.
D) less than 0.38.

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