Generally, the elasticity of demand for an energy source in the long run will be
A) approximately equal to its elasticity of demand in the short run.
B) considerably more elastic than in the short run.
C) slightly less elastic than in the short run.
D) considerably less elastic than in the short 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.

Generally, the Elasticity of Demand for an Energy Source in the Long