Generally, the demand for energy in the long run will be
A) approximately equal in elasticity to the demand for energy in the short run.
B) considerably less elastic than in the short run.
C) considerably more elastic than in the short run.
D) perfectly inelastic because we must have energy to survive.

Question

Quizplus · Accepted Answer

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

Generally, the Demand for Energy in the Long Run Will