Ceteris paribus,the longer the time period,the
A)Smaller the income elasticity for the good.
B)Less elastic the demand for the good.
C)More unitary elastic the demand for the good.
D)More elastic the demand for the good.

Question

Quizplus · Accepted Answer

The longer the time period, the more opportunities consumers have to adjust their behavior and find substitutes for the good. This makes the demand more elastic.

Ceteris Paribus,the Longer the Time Period,the