The demand for most products is likely to be
A) more elastic in the long run than in the short run.
B) less elastic in the long run than in the short run.
C) equally elastic in the short and long run.
D) equally inelastic in the short and long run.

Question

Quizplus · Accepted Answer

In the long run, consumers have more time to adjust their behavior and find alternatives, making demand more elastic compared to the short run.

The Demand for Most Products Is Likely to Be