Given that elasticity of supply changes over time,in the short run an increase in demand will generally cause
A) the price to rise above its long-run equilibrium value.
B) the price to rise to a level below its long-run equilibrium value.
C) the quantity exchanged to rise above its long-run equilibrium value.
D) both price and quantity exchanged to rise above their long-run equilibrium values.
E) supply to change.
Correct Answer:
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